1. Pre-approval
Typically customers fax or email us our short pre-approval request form. We can also take this information over the phone at 866-321-4733. We typically confirm your pre-approval the same day. We usually do not need additional information such as pay stubs and bank statements for the pre-approval, but we like to receive these as soon as possible.
2. Loan application packet emailed to you
Once you find a property, we email a loan packet to you. This packet is pre-populated so there is almost no work required from you other than to review the forms for accuracy and sign, date and initial where applicable. We also provide helpful explanations when necessary so that the forms make sense. Typically customers fax or scan and email these forms back to us. If it is more convenient, we can provide a pre-paid, pre-addressed Fed Ex label to use to send the forms and any supporting documents back to us.
3. Loan processed
We organize the information you send to us and submit it through a secure electronic upload to Wells Fargo. We order your appraisal, title work, insurance and any verifications that may be required of us. We respond to underwriter requests for additional information. We order closing documents.
4. Key closing documents emailed to you
We almost always email your key closing documents at least a day prior to closing for your review. Title company escrow officers consistently tell us that they are amazed at how few questions arise at closing on our loans.
5. Closing and funding
You close at your local title company. Your wire is pre-ordered on the day that closing documents are prepared so that the funds arrive early in the morning on the day of your closing. After you and the seller sign, the closing officer at the title company faxes Wells Fargo copies of certain key documents for review. Once a funder confirms these have been signed the title company is authorized to disburse the funds. This all typically occurs on the same day unless you close very late in the afternoon.
