During this stage, we'll perform an interview to uncover your qualifying criteria and to discuss your goals.  This is the discovery stage which is arguably the most important step in the process. You will fill out a full loan application which will help your loan officer ensure they are presenting the proper solution for you and covering all basis to ensure a smooth process moving forward.

Once your loan application is complete and all documents requested are collected your file will be sent to our Processing department and assigned to a Sr. Loan Processor. Our knowledgeable and highly experienced loan processor will perform a thorough quality check to ensure all documentation required by the Underwriting department has been received. The processor will also prepare certain initial loan disclosures  and order the appraisal (if needed). Once the file passes their quality check they'll push it to the underwriter. The loan processor will be involved throughout the entire process. 

Upon ordering the appraisal, an Appraisal Management Company (AMC) will assign the order to a local appraiser who will reach out to the point-of-contact to inspect the property. They will take photos, measure square footage, inspect the home for any health and safety issues and finally, check surrounding comparables to determine the property's value. 

The underwriting department is responsible for reviewing all aspects of the loan file to determine eligibility. They will follow specific program guidelines issued by the larger agencies such as Fannie Mae, Freddie Mac, HUD along with their own  investors.  Upon finishing their review a Conditional Loan Approval, denial or suspense  will be issued.  

Once the conditional approval is issued our team will begin working to satisfy any items requested by the underwriter. These conditions are not always needed from the borrower, they can also be from any third party involved such as the title co., escrow, the appraiser, the real estate agents, etc... Once all conditions are completed they will be submitted all at once for review and to be cleared for the next step.

Once the conditions are cleared the underwriter will clear the file for final loan docs. All borrowers will sign these loan docs in the presence of a notary and will be returned to the lender for final review. Once all items are cleared the loan will be set to Fund and the title company will then be responsible to record the new loan with the county. Once recording is confirmed the loan process is officially complete.