Here is some basic process that we have so our client can have real expectation on the process.
Step 1 – Complete our application and gather all info we need on our checklist and send back to us.
Step 2 – We will order the service such as title, escrow, appraisal. This process will take about 3-5 days to get all report back. During this time, if we need any additional info from client, our processor will contact you and gather all info we need.
Step 3 – Processor will submit complete file to underwriter. This means we need all documents sign and dated from client. if we are missing documents. The file will not be submitted.
Step 4 – The underwriter will approve with condition or no condition at this point. We will confirm Term, rates,point , cost under LOI. If there is condition. Client will be working with processor to satisfy these conditions. (This could be taken 2-3 days depend on how fast client respond to us)
Step 5 – Condition is satisfy. Final documents will be drawn with our attorney. Client will need to pay for this cost directly to our attorney.
Step 6- Docs will be signed and received. The loan will get funded the next day we recieved.
Step 7 – Escrow will disburse fund one day after we funded the loan.
It is very simple process. It’s really up to how fast can our client turn in the documents when we ask for.
If you have further questions. Please do no hesitate to call our loan officer and procossors. They will be hapy to help you out. 714-462-1305