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Pre-Qualification/Interview
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Application Interview
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Lender Obtains All Pertinent Documentation
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Order Documents
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Credit Report
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Appraisal on Property
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Verifications of Employment
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Mortgage or Rent and Funds to Close
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Landlord Ratings
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Preliminary Title Report
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Loan Submission
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Loan Package is Assembled and Submitted to the Underwriter for Approval
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Documentation
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Supporting Documents Come In
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Lender Checks on any Problems
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Requests for any Additional Items are Made
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Loan Approval
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Parties are Notified of Approval and/or “Prior to Documentation” Conditions
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Documents are Drawn
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Loan Documents are Completed and Sent to Title
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Borrowers go to Escrow for Final Signatures
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Funding
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Lender Reviews the Loan Package
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Funds are Transferred from Lender to Title
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Recording of Documents
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Title Company Records the Note and Deed of Trust
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Escrow is Now Officially Closed
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