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LOAN PROCESS
Below is the OLD ERATE Loan Process.
We normally do not Broker Loans any longer.
Examine our low
rates and low closing costs. View the loan programs available and do a current
rate quote. Compare our rates to our competitors.
Ready to start the
loan process. Apply and complete the secured loan
application. A loan originator will contact you to go over the details of the
loan and answer all of your questions. We will then run your loan through
automated underwriting and order the
credit
report. When the loan is approved, then we will order the appraisal, open
escrow, and send out the loan package.
Approval of loan by
lender. Once we receive the loan package, appraisal, and preliminary title
report, we submit the loan to the lender for underwriting. When all prior to
doc conditions are cleared and youve locked your loan, we will order the
loan documents.
Title calls to sign
the loan documents. The loan documents are emailed to title and title will give
you a call to schedule the signing. You can sign the loan documents at any
location.
Escrow closes. The
loan documents are sent back to the lender for review. When all prior to
funding conditions are satisfied, the loan funds and records.
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