It's time for the big reveal of the Mortgage Mystery. When you break it down, it's easy to get your head around it.
It all starts when your offer is accepted by the seller and you deposit your earnest money in escrow. This lets everyone know you’re serious. Next, a little paperwork. We will work with you to update your loan application and your file with your most recent income and asset documentation. You can securely upload everything via our loan center at your convenience. Going digital allows us to e-disclose and get e-signatures while saving you a ton of time and bother. Once the disclosures are signed (or e-signed) we'll order the home appraisal for you.
We'll combine your updated information with the preliminary title report from escrow and the appraisal, and submit your file to our in-house underwriting department. This is a huge benefit as it helps to speed up the process. Underwriting will issue a conditional approval. We get them the conditions and they issue a final clear to close. Then we issue loan docs for signature at the escrow company and fund the loan. All the while, you're able to track your loan's status online 24/7 via our loan center. When it's getting close to the end of the process, you'll want to shop for movers and arrange for the transfer of utilities and services.
Once the docs are signed, the loan has been funded, and you've sent in your portion of the down payment and closing costs, the final step is for the papers to be filed with the county. You're now the official owner of the home.
Call the movers and get ready to build some lifelong memories!