Home Loan Process

 

Stages of the Loan Process

Stage 1 - Borrower Receives Offer
Stage 2 - Borrower Requests Lock
Stage 3 - Borrower Takes App
Stage 4 - Lender Locks Loan
Stage 5 - Lender Sends App
Stage 6 - Lender Orders Appraisal
Stage 7 - Borrower Returns App
Stage 8 - Lender Reviews Paperwork
Stage 9 - Lender Submits Loan
Stage 10 - Lender Meets Conditions
After all conditions have been met and the loan is “Clear to Close"
Stage 11 - Lender Sets Closing
Stage 12 - Borrower Closes.

 

 

Disclaimer:  These stages above are typical.  However your stages may vary depending on various circumstances such as loan types, property types, credit situations, appraisal issues, etc. Source Sweetwatermortgage.com.

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      JBGoodwin, REALTORS®
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