We realize that once a closing date is set there may still be a number of unknown factors and outstanding questions; however, you need to finalize all the financing details AND provide all your Supporting Documents to Nicole Durst within 72 hours so we can start the loan process and turn your file into Setup.
Loan Packaging: 1 to 2 Business Days
It’s imperative to finalize your mortgage details and provide your loan docs as soon as possible because we can’t move forward until these things are completed. Moreover, the rest of the process is subject to third party turn times and we can assure you that the third parties don’t operate as quickly as we do.
Being responsive early will ensure a smooth and on-time closing.
Once we have the details of financing finalized we will then email you the Loan Disclosures that outline the full details of your home loan.
Next Step: Loan Disclosures
The HomeBridge Disclosure Team will be emailing you the electronic loan package in the next 24 to 48 hours – please sign and return within 24 hours so we can submit your file to Setup. You will be required to register and setup an account to access the secured e-docs, and you’re welcome to contact the Disclosure Team directly with any questions or problems. Note: please keep your login credentials as they will be used again later in the process when we send you the initial Closing Disclosure to e-sign just before closing.
Emailed Loan Package
The loan disclosures will have two parts: the first will consists of 25 to 30 pages that can be e-signed, and the second part will consist of about 4 to 6 pages that required “wet” signatures. This means you will need to print these documents, sign them, and return them via fax, email, upload, mail, etc..
The home loan disclosures will contain a variety of documents but the main documents that warrant attention are the Loan Estimate and the Loan Application.
- Loan Estimate (LE) – The Loan Estimate (LE) outlines the rate, the costs, and the terms of the loan. Please know that the majority of the costs shown are still estimates and are subject to change. FYI: the Loan Estimate (LE) looks like the Closing Disclosure (CD) statement that you will sign at closing.
- Loan Application – the loan application is the four-page document that contains the information you provided to us for the loan. Please review it for accuracy and call us immediately if there is incorrect or missing information. This is critical as the conditional approval issued is predicated on the application’s information.
- Other Disclosures – Many of the documents in the loan disclosures are permission slips that allow us to act on your behalf. Third parties, like the IRS, your Insurance Agent, etc. need your consent to share your information with us. The rest of the documents outline the process and set expectations for all parties to be honest and transparent.
As always, please contact us should you have any questions.