Approval Process

IMG_8549-2-EditWhat to expect during the loan process for a purchase or refinance:

  1. Choose your rate and term
  2. Lock in your interest rate
  3. Sign documents provided by your Loan Officer
  4. Provide requested items to your Loan Officer for your loan submission
  5. Your loan officer will review your paperwork and your loan will be submitted to the lender
  6. Once the lender approves your application, we will order an appraisal and the appraisal company will setup a time with you or the listing contact to go to the property and do a complete review of the home
  7. The Lender’s underwriting team will review your loan submission
  8. The Underwriter send us a conditional approval
  9. We will satisfy as many conditions as possible and will order tax transcripts from the IRS, Insurance Verification, Title Work and Payoffs
  10. We will contact you to request any additional items the lender has requested
  11. Your conditions will be re-submitted to the lender
  12. The Lender’s Underwriter will review the conditions provided
  13. After all conditions have been met,  the lender will conduct a verification of employment for all borrowers whose income is being used to obtain the loan
  14. The lender will issue a clear to close (CTC)
  15. Raleigh Mortgage Group will contact you and your closing attorney to set up a closing time and location
  16. At closing, you will be asked to bring necessary items and will sign your loan documents