| 1 |
Initial Contact with Natalie N.
Mosconi Your Mortgage Professional |
| 2 |
Pre Qualification
-
Your mortgage goals are discussed
-
Types of Financing are discussed
-
Loan to Value or Down Payment is Determined |
| 3 |
Loan Application
-
Loan Application is initiated (question
and answer session re: your employment,
address and finances)
-
Credit Report is ordered
-
Product and interest rates are determined
-
Documentation is requested from you to
complete your loan
application |
| 4 |
Order Outs
-
Escrow is opened
-
Appraisal is ordered
-
Verifications of Deposit, Employment, Rent
or Mortgage are ordered
-
Loan application is analyzed for accuracy
and completion |
| 5 |
Information that has been ordered is
received |
| 6 |
The loan is submitted to an underwriter
who will give an accurate
opinion
on the loan to determine how the loan will
be repaid |
| 7 |
Approval with Loan Conditions
-The
underwriter approves the loan but has stipulations
that must
be
met before the loan can proceed |
| 8 |
Clearing of Conditions
-Stipulations
requested by the underwriter are collected
from the
client
and given to the underwriter so that conditions
can be
cleared
and the loan process can proceed |
| 9 |
Loan Documents are requested and drawn. |
| 10 |
Loan Documents are signed by the client
and then the documents are sent back to
the lender. |
| 11 |
The Loan Documents are reviewed for accuracy
and a Funding date is determined. |
| 12 |
The loan is funded. |
| 13 |
The Loan is recorded with the county. |
| 14 |
If this loan transaction was a purchase
you would now receive your Keys to
your new home. |
| 15 |
You have now accomplished your
mortgage goal. |
