9 Steps of the Financing Process

1. Complete the loan application. An application fee may be required by the lender.

2. The lender begins processing the application.

3. The lending institution requests an appraisal of the home, credit report and verifcation of employment and assets, such as bank accounts.

4. The lender will provide a booklet containing specific loan information and a good faith estimate of closing and related costs.

5. An estimate of your loan costs, in the form of an Initial Truth in Lending Diclosure Statement is issued.

6. The lender evaluates the application, along with supporting documentation, and approves the loan.

7. Sign closing documents and the loan is funded.

8. The lender disburses the funds to the settlement or closing agent. Seller is paid and title to the home is yours.

9. Appropriate documents recorded at the county recorder's office.