Completed Loan Status
(Estimate)
Day 1 | Loan has been submitted to underwriting |
The loan has been submitted to an underwriter for the initial review. | |
Day 3 | Receive the Loan Estimate for review and provide Notice of Intent to Proceed |
Day 6 | File reviewed by processor and submitted to underwriting for initial review. Title work ordered. |
Day 10 | Initial review by underwriter for conditional approval. |
The Loan Officer and/or Loan Processor will contact the borrower for any additional items that are requested by the underwriter. | |
Day 21 | Appraisal, title work, and any other conditions received and submitted to the underwriter for final approval review. |
Day 23 | Full approval and clear to close from the underwriter. |
Day 26 | Closing Disclosure provided to you by the lender for your review. |
Day 29 | You will need to wire funds to the attorney for closing or bring a certified check. |
The lender will wire the funds and send final documents to the attorney. | |
Day 30 | Closing – Meet with the attorney, agents, and sellers to sign documents. |
You will need to have your driver’s license or other government issued ID. |
Congratulations! The attorney “records” the transaction at the court house and you became a new home owner
WARNING: *Wire Fraud is Real*. Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions. DO NOT use instructions or phone numbers you may have received via e-mail.