This step is the step that gets you started in the right direction. Our team will assess your credit worthiness, discuss your financing options and set the expectations. At this time, you will also be provided with our Rapid Close checklist, so you can get started collecting documents for your full application.
Your Loan Originator will gather as much information as possible once you are officially under contract on a home. It is very important that you provide any items requested in a timely manner, so we can get you to the closing table as quick as possible.
Within one day of receiving your contract, your file will be given to our in-house processor (assuming you have provided all necessary requested documentation). We will make sure you have provided all necessary items to assist in getting full approval. You will be emailed all loan documents for e-signature or wet signature by the processor and/or underwriting lender.
Your file will be submitted to underwriting within 3 days of being received in processing. This is pending all requested documents have been received and/or signed. Underwriting decisions are typically made within 2-4 days.
Approved with conditions means your file is approved but they may still need a few more items from you or about the property (Appraisal, Title Work, Inspections, etc.) You will work directly with your processor to resolve any items needed from you.
The underwriter will now review all of the conditions you and the processor have provided to make sure we have completed what is required. They will then clear those conditions or request more clarification if they are still unclear about something provided. Once all conditions are cleared, your file is complete and is ready for closing.
Our team works with the closing agents to make the final preparations for your closing. Your Loan Originator will email to you the Closing Disclosure and contact you with your final closing figure as soon as we have received it from the Settlement Agent.