loan process
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Borrower
|
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| Initial
Inquiry |
Borrower fills out
our 3 minute online EZ Pre-qualification form:
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Our team evaluates
your information and gives it to one of our nationwide loan
specialists according to location and property type and
contacts you based on your preference. A customized
loan solution is then presented to you.
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Qualification
and
Pre-Approval |
Loan is submitted
for pre-approval:
- 1003 application and loan
submission form
- Tri-merged credit report
- Purchase and sales contract
if applicable.
|
Issues to borrower a Conditional Pre-Approval Letter
within 48 hrs of complete package submission stipulating:
- Loan amount
- Rate
- Documents required for Underwriting
- Documents required for closing
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| Underwriting |
- Signs pre-approval letter and
appraisal processing fee and
returns to Lenders Commercial Mortgage
- Provides all additional information
and documentation
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- Orders appraisal
- Orders title
- Conducts fraud guard
- Obtains environmental insurance
- Conducts real estate and income
analysis (when applicable).
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| Closing
& Funding |
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- Coordinates w/ Title company &
attorney
- Prepares all loan docs and sends to
closing agents (same day funding
available for purchases).
- Sends completed docs to custodian
for review.
- Issues funding next day.
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