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