Buyer 101

We know the loan process can be a bit intimidating, so we put this flyer together to give you a little information about the process.

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Step One

Find lender & begin application process.

1

Complete Application

Your lender will have you fill out an application.

2

Allow Lender to Review

Your lender will the obtain all of the pertinent documentation to avoid unnecessary problems and delays.

3

Lender Verification

Within 24 hours of submitting your application, the lender will request documentation to verify the information provided.

 

Step Two

Lender submits your application for approval

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Lender

With documentation in place, the lender submits the application and documentation as a package to the underwriter.

Underwriter

The underwriter reviews the paperwork and makes a determination whether or not to grant the loan. Approval generally takes 24 to 72 hours. All parties involved are notified.

 

Step Three

Application is approved and funded

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Once the loan documents are signed, they are returned to the lender, who reviews the package.

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If the loan documents pass final review, the loan funds are deposited with your escrow company.

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When the escrow company receives funds from the lender, they authorize the title company to record the deed of trust at the County Recorder’s office.