Once all application forms are completed and submitted, your loan request will be submitted to processing. Once a title search is completed, an appraisal of the property will follow, and your application will be sent to underwriting.
All documents are then reviewed, and your loan eligibility will be evaluated upon your credit, payment ability based on debt-to-income ratio, property value, and any capital. Once you are approved, a clear-to-close is processed, and a schedule can be set for your closing date.