Click on a step to read more about the step and read a more detailed explanation

Step 4 : Receive the Loan Approval and Sign Loan Documents
(This step takes an estimated 1-2 weeks)

Within a week of your loan submission we or your bank or lender will receive a loan approval. We then begin working on obtaining the additional documentation required by the lender. During this time please remember :

• Do not make any major purchases, whether you are using a credit card or cash
• Do not move any funds around in your bank accounts
• Do not apply for additional credit cards or loans

Soon after providing the additional documentation you will be required to sign the loan documents sent by the lender to the title company. The signing must be done in the presence of a notary and can be done either at the title company or in the comfort of your own home. Keep in mind there may be an additional charge from the title company for the convenience of having the notary travel to your home to sign the loan documents. When the time comes to sign be prepared to bring the following :

• Cashier's check or money order. This is to pay the remainder of the down payment and closing costs. Cashier's checks and money orders are the preferred method of payment. Personal checks may delay the closing due to the need for the escrow or title company to clear the check before disbursing funds. You can also transfer payment via bank wire, but that must be set up beforehand.
• Picture identification. (e.g. driver's license, passport)

Remember that during this time you also have to find the insurance company to cover your homeowner's insurance. This is a lender requirement before they will agree to fund or complete your loan.

Please remember that if you have any questions about the process, feel free to contact us any time!

<<< Return to Step 3 | Continue to Step 5 >>>