Lender Process

The following is an overview of the loan process when securing a mortgage. This process begins once the loan details (such as program, rate, costs, etc.) have been finalized and a contract has been executed.

LOAN PACKAGING (1-2 business days)

  • Borrower provides “Green Light” and a loan package sent  for review and signatures
  • Signed loan package and outstanding Required Documents are returned to lender (i.e. pay stubs, tax returns, etc.)

SETUP (2-3 business days)

  • File turned into Setup (and if needed additional documents are requested from Borrowers)
  • Third party items are ordered (ex: appraisal, title, insurance, etc.)

CREDIT APPROVAL (2-3 business days)

  • Borrower is credit approved – ie. documents have been reviewed and approved
  • Appraisal and some third party items may still be pending

FULL APPROVAL (3 business days)

  • Appraisal arrives and is submitted to underwriting for approval
  • Both credit and collateral are approved and underwriting requests any additional documentation

FINAL APPROVAL (1-2 business days)

  • Documents are provided to Underwriter to satisfy outstanding conditions
  • Clear to Close (CTC) is issued and file is moved to the Closing Department


  • Instructions are sent to title to prepare a HUD-1 Settlement Statement
  • Closer, Attorneys, and Title Co. coordinate to prepare closing docs once the HUD-1 is finalized

CLOSING / FUNDING (same day)

  • All parties sign the closing documents and provide the necessary funds to close
  • The title company returns signed documents and lender funds the loan


Next Step: Closing / Funding
Previous Step: Loan Consultation

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