The loan process
Six steps from our first conversation to closing day. I'll guide you through each one and let you know what's next.
Step by step
We start with a quick look at your income, credit and savings, so you know what you could borrow and what your payment might be.
Share the basics by phone, by text or online, along with your goals.
Run the numbers and walk you through the loan options that fit.
When you're ready, you'll fill out the application online and send in your documents. Once it's complete, you'll get a Loan Estimate within three business days showing your rate, payment and costs.
Complete the application and upload items like pay stubs, W-2s and bank statements.
Review everything, match you with the right lender and go over your Loan Estimate with you.
A rate lock holds your interest rate for a set period while your loan moves toward closing, so market changes won't affect it during that time.
Decide when you're comfortable locking. We'll talk it through together.
Explain your lock options and confirm your rate and lock expiration date.
Now the details get verified, including your income, assets and employment. If your loan needs an appraisal, it gets ordered at this stage too.
Respond quickly to any requests, and check with me before opening new credit or making big purchases.
Gather what's needed, work with the lender and keep you and your real estate agent updated.
The lender's underwriter reviews your full file and makes the credit decision. They may ask for a few more items before issuing a clear to close.
Send over any final items the underwriter asks for.
Tell you exactly what's needed, work through the conditions and let you know when you're clear to close.
You'll get your Closing Disclosure at least three business days before closing. Then you sign your final documents. On a purchase, that means getting the keys once the loan funds and records.
Review your Closing Disclosure, then bring your ID and any funds due at closing.
Go over the final numbers with you before you sign and answer any questions.
Apply online, or book a time to talk it through with me.
Steps and order can vary by loan and lender.