1. Pre-qualification:  Based on your income and expenses, this process determines how much you will qualify for.
  2. Application:  The actual qualification process by the Lender, including obtaining credit reports, employment and salary verification, rental and/or mortgage history and funds.
  3. Order of Documents:  A preliminary title report and property appraisal ordered by the Lender.
  4. Loan Submission:  The entire loan package will be compiled and submitted to the loan underwriter for final approval.
  5. Documentation:  All supporting documents are gathered; the Lender corrects any problems and also addresses requests for additional information.
  6. Loan Approval:  All parties are notified that the loan has been approved.
  7. Drawing of Documents:  Loan documents are completed and sent to Home Site Title Agency.  An appointment is set for the borrowers to sign the final documents.
  8. Funding:  The Lender reviews the loan package and funds are forwarded to Home Site Title Agency.
  9. Recording:  Home Site Title Agency records the deed of trust.  The recording process officially closes the escrow.