The Loan Process

  • Step 1: Time Requirements

    For most traditional purchases, the time required is 3-6 weeks after the purchase agreement is accepted and signed.  Private money loans can be funded in as short as 1-2 weeks.  Refinances can take slightly longer due to an added 3 day rescission requirement.  The appraisal time is 2-6 weeks, depending on the availability of the appraiser. The loan processing time is dependent upon the cooperation and availability of others, including the buyer, seller, appraiser, lender, your loan officer, and your realtors.  The complexity of the purchase and loan conditions can also affect the timeline.

  • Step 2: The Contact

    We invite you to contact us by phone, email, or by personal contact.  We will promptly return your call or email you to discuss your loan requirements.  We certainly appreciate all of the valued referrals that we receive from our clients and referral partners. You can utilize our “Contact Us” page to initiate the process.

  • Step 3: The Pre-Qualification or Pre-Approval

    First, we simply talk with you to learn what you really want and need in order to get you the loan that fits you best.  You will be asked a series of questions relating to your credit history, employment, income, equity or down-payment available, property type, type of loan needed, and the purpose and timing of your loan.

  • Step 4: Application & Documentation

    We will either meet with you in person or by phone to complete your application, get required signatures, and collect some of your personal documentation.  Your credit report is required to determine your mid credit scores, overall credit history, open accounts, and payment requirements.  After carefully doing a credit analysis, we may need to do some credit enhancement.  We ask you for your vital paperwork such as a recent pay stub, W-2’s, tax returns, bank statements, proof of self-employment, cancelled rent checks, purchase agreements, and anything else the lender requires.  Verification of your employment, income, liquid assets, and rent or mortgage payment history is required.  Escrow is setup when your purchase agreement and deposit is sent to escrow.  We quickly order your title report, appraisal, insurance binder, and help you decide when to lock in your interest rate.  We also work closely with your realtors to meet your purchase conditions and timeline.

  • Step 5: Loan Submission and Approval

    After we obtain your automated loan approval, your completed loan package is submitted for lender approval.  With your conditional approval in hand, we work to meet your remaining loan conditions.  When all the lender’s pre-documentation conditions have been met, then we can order your loan documents and have them sent to escrow.

  • Step 6: The Loan Closing

    Once the lender’s loan documents have been received by escrow, your escrow officer will draw up and send us your settlement statement, listing all of your loan related costs. Escrow will then contact you to schedule the signing of your loan documents.  The loan documents must be signed and then sent overnight for the lender to review.  If there are any remaining pre-funding conditions yet to be met, this must be done before the lender will fund your loan.  At that point the lender wires your money to escrow and your trust deed is recorded in the county seat and required checks are written and sent.  For purchases, you will be required to bring in remaining funds for down payment and closing costs.  For refinances, you will be required to bring in payment statements for accounts to be paid off.

Congratulations, your new loan is complete!

Please remember to refer us.