What to expect during the loan process for a purchase or refinance:
- Choose your rate and term
- Lock in your interest rate
- Sign documents provided by your Loan Officer
- Provide requested items to your Loan Officer for your loan submission
- Your loan officer will review your paperwork and your loan will be submitted to the lender
- 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
- The Lender’s underwriting team will review your loan submission
- The Underwriter send us a conditional approval
- We will satisfy as many conditions as possible and will order tax transcripts from the IRS, Insurance Verification, Title Work and Payoffs
- We will contact you to request any additional items the lender has requested
- Your conditions will be re-submitted to the lender
- The Lender’s Underwriter will review the conditions provided
- 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
- The lender will issue a clear to close (CTC)
- Raleigh Mortgage Group will contact you and your closing attorney to set up a closing time and location
- At closing, you will be asked to bring necessary items and will sign your loan documents