Just as a quick recap, once we have your pre-approval in step 1, we will send you a list of the documents that are needed for the mortgage process. These documents will be required by the underwriter and are crucial to prove that everything on the application is true and correct. It is vital that we get your loan documents as soon as possible, preferably before we even put in an offer, so we can make the transaction as seamless as possible. Once we receive your documents, we will do data integrity on your loan file, and send it to our processors. The loan processors will put the file in a specific structure for the underwriter to review. He or she will then submit the file to the underwriter, who will examine the initial documents and application. After they review the file, we will receive a loan approval with conditions. A loan approval with conditions means that the underwriter is prepared to approve the loan, if we can provide the necessary conditions they are asking for.

 You will then work with our processor to get the items request by the underwriter to keep the loan moving. This is a watershed moment in the mortgage process. This process can take a few days or a few weeks depending on how fast you get our processor the conditions requested. The onus is solely on you, as the borrower, to get the requested documents over as soon as possible. Our hands are tied until you provide the necessary items. Once we have submitted all the requested items to the underwriter, and the underwriter has no more questions, they will issue a clear to close.  A clear to close means that the underwriter has fully signed off on the loan and we will be starting the closing procedures. Typically, this process can take 3-4 weeks, but could be faster or slower depending on how fast you as the client move.

If you like to learn more about the mortgage process or have any questions about mortgage financing, give us a call at the office at 727-376-6900.

NMLS ID: 327290; NMLS ID: 2062741

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