The loan process starts once you have all of your documents in.  If you do not have all of your docs in, please click on this link and upload your documents.

Things needed to get your loan started


Once you have your loan documents in, the work begins on our side.  Here are the steps and timeframes.

  1. Day 1-5 Document Collection.(We need all of your documents in a form that underwriters will accept during this period)  We need your insurance binder from your insurance agent, we need the final purchase agreement from your real estate agent, we need association info and tax info on the property that you are buying.
  2. Day 6-10 Document Review.  One we have all of your documents, it takes 3-4 days to go thru every line of your bank statements, your paystubs, your w2’s, tax returns, get the correct insurance binders from your insurance agent, calculate year to date income, overtime and commisisons.  We will also order your appraisal and tax transcripts during this time.
  3. Day 11-13  We will submit your loan into processing which is almost like a soft underwriting.  Your processor will look at everything that my team and I have submitted and look for any missing items and determine if we need anything else.  Your processor will then submit your loan into underwriting.
  4. Day 13-17  It takes 2-4 days on average for an underwriter to receive and review everything line by line with your loan.  Your underwriter will verify that everything has been done correctly, that your ratio’s and debt are correct, review your home owners insurance, verify every aspect of your loan and then issue an initial decision.  This decision will have a list of things that my team and I will have to request in order to continue to move your loan forward.  Most times they will ask for several more items or clarifications from you plus a list of things that my team and I will have to collect or change.
  5. Day 17-20 My team and I will request any underwriting conditions from you and all of the vendors that are working on.  Each day that you are not able to get us what was requested adds an additional day to this process.
  6. Day 14-23 We will receive your appraisal back.  This time frame varies depending on how back up the appraisal companies are.
  7. Day 20  We would like to re submit your loan back to underwriting on or before this day.
  8. Day 21-24 Your loan will be in underwriting.  We would like to get a clear to close by day 24.  The following things will determine if we can get a clear to close during this period.
  • Have we received all of the docs from you in a form that is clear and acceptable to the underwriter.
  • Have we received your insurance binder from your home owners insurance agent.
  • Is your appraisal back, correct and quality reviewed.
  • Have we been able to get ahold of all of your Human Resources people and have we received your verification of employment back correctly.
  • Did your income that you reported match the income that the underwriter calculated.