Your application has been completed online, by phone interview or face-to-face with one of our knowledgeable mortgage loan originators. Your application is supported by documentation that was requested to verify the information provided.
Mortgage rates change throughout the day. At your request your rate has been locked which provides the protection and peace-of-mind of having the quoted rate until the expiration date.
Our experienced underwriters have reviewed your application, supporting documentation and other loan details ensuring you are qualified and your loan has now been conditionally approved. Your loan processor will work with you to collect any additional documentation that is a condition of your loan approval.
The property appraisal has been ordered to estimate the property’s market value. The appraiser has scheduled an inspection of the interior and exterior of the property. The appraisal order has a specific date of completion and you will be updated once it has been received and reviewed.
Our staff of appraisal review experts has completed a detailed evaluation of the appraisal report.
Title insurance coverage has been requested from the title company. Title insurance protects the borrower and/or lender from any title defects.
The title company has provided the preliminary title documentation which will be reviewed for any specific limitations to coverage and any other requirements.
Approved/Preparing to Close
The underwriter has reviewed your loan file with specific attention to the conditions required at Initial Approval. At this stage, the primary goal of the underwriter has been to complete the final review of all loan documentation.
Closing Docs Sent
The documents required for your loan closing have been prepared and delivered to the title company.
We have initiated a wire transfer of the funds necessary to complete your transaction. This will ensure the loan will fund on the specified closing or funding date.