A PURCHASE MORTGAGE TIMELINE
We start with a Pre-Approved borrower;
Please send us a copy of the written offer, Disclosures, Ernest money check, so we can register the loan as soon as the offer is written.
Offer accepted Inspections ordered;
We e-mail the application package to the borrower. It can be e-signed or we can meet with the borrower and go through the closing package together.
We order Title
We pre-underwrite the loan, secure the needed borrowers documents. Then submit the loan application to the lender.
In about 3 days we receive any lender underwriter’s conditions. We put together the best application packages, if there are outstanding conditions; they are usually waiting to be received.
Inspections completed and now we have a final bottom lined purchase agreement;
As soon as we get a bottom lined purchase agreement we are able to order the appraisal. Please schedule it as early as possible.
While waiting for the appraisal to be completed, we submit the remaining underwriter conditions. If these conditions do not require additional documentation, often, we can have all conditions satisfied before the appraisal is completed.
As soon as the appraisal is completed and reviewed, we will be moved to final underwriting. Checked one last time and if everything is correct, issued our clear to close.
We contact all agents and the buyer of this clear to close condition and we come to an agreement on the closing date and time.
Three days for TRID. During this time we meet with the borrower and go over the closing documents and answer any questions. We believe our borrowers show up to closing with most all of their questions answered and ready to sign on the line.