Contract to Closing Roadmap

1
  • Real Estate contract signed
  • REALTOR® provides to Loan Officer
2
  • Provide requested documentation to Loan Officer
3
  • Loan application and disclosures signed
4
  • Property insurance and contact - obtain and forward to the Loan Officer
5
  • Loan package sent to processing
    • Appraisal ordered
    • Title ordered
    • Survey ordered (If needed)
    • Employment verified
6
  • Loan sent to underwriting
7
  • Conditional Loan approval received by processing
8
  • Conditions submitted to Underwriting for final approval
9
  • Appraisal complete and value received
10
  • Loan is approved
  • Clear to close is issued
  • Initial Closing Disclosure is disclosed
11
  • Lender and closing attorney send documents to the title company
12
  • Final documents prepared
  • Final Closing Disclosure is approved
  • Closing scheduled
13
  • Seller and Buyer sign documents at the Title Company
14
  • Loan funding occurs
15
  • Buyer receives keys to new property