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The #1 USDA Originator in the Nation 2014 & 2015 and Top Originator 2016!
Prospect in for Qualification Review: [ 1-3 Hours] initial prequalification request has been received: Our staff will review the credit report and score. Please expect a call or email to discuss your loan request.
Prequalification: [2-6 Hours] we will review your file and based upon the information the borrowers verbally provided and credit report. We will compared to our guidelines for eligibility and issue a prequalification letter
Credit Repair: [1-2 Business Days] your current credit Score at this time does not meet the program requirements but the report is satisfactory. A plan of action is given so that credit improvement can increase the chances of a future prequalification
Document Request: [ 1-3 Hours] A list of required documents for PreApproval are sent. We allow 5 Business Days to provide the documentation
PreApproval Review: [1-2 Business Days] your documentation has been received, and has been turned in for a PreApproval to be issued.
PreApproval Issued: [1 Business Days] Required Income, Assets, Credit, and AUS information has been verified by our staff.
File to Be Disclosed: [1-2 Business Days] we have received your contract and are in the process of completing your required mortgage loan disclosures. File is reviewed for Completeness. We will notify you if we need updates or any other required documentation.
Disclosures Out: [1-3 Business Days] Required Disclosures are complete. You will receive the Loan Application, GFE, TIL, and Estimated Cash to close through our E-Signature Software: Don’t forget to send any requested documents back, and be prepared to pay for an appraisal (if needed)
PreSubmission Review: [1 Business Day] Signed disclosures have been received and (if) requested documents have been received file will be moved to loan submission (if requested documents are not received the loan will not progress and a decision cannot be made) BORROWER URGENCY is the upmost importance
Submitted: [1-4 Business Days] Completed file has been delivered to our in house underwriter for loan commitment (Loan Approval).
-Existing Homes: Due to Appraisals take 7-10 Days for completion (expect copy of appraisal once received) we will be requesting a credit card to pay for this over the phone.
To-be-Built Homes: the Builder will advise when the appraisal can be ordered
Approved: Loan has been approved with conditions. You will receive an email copy of your loan approval detailing needed items, and a phone call from your assigned processor or processor assistant to go over conditions needed for final approval
Resubmitted for Conditions: [1-5 Business Days] Once loan conditions, employment verification, and appraisal are received the documentation will be submitted to the underwriter for underwriter acceptance.
Waiting on Home to Be Built: (New Construction Only) [Typically 2-4 Months] All available conditions were signed off. The loan process is at a stopping point. 30 Days prior to estimated Completion we will be repulling a new credit report, requesting updated income, assets, and Home Owner Agents information. 3 Days prior to the estimated home completion date a final appraisal will be ordered verifying home is completed per plans and specs.
Resubmitted for CTC: [2-5 Business Days] File is being resubmitted to get final loan commitment. Expect a confirmation for of Closing Date
Clear to Close: Final Loan Commitment received. Final Closing Documents are now eligible to be completed.
Closing: The long awaited day is here. You get your keys to your home, and become part of the Home Solution Lenders Family.
After Closing: Do not forget to sign up for Homestead Exemption. Contact your county property appraiser for instructions and dates
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