Time to get things ready for underwriting.
Your Homeseed Advisor will work with you to decide the best time to lock in your rate. Your rate will be locked, or guaranteed, for a specified time period, such as 30, 45, 60, or 90 days, depending on your loan scenario.
You’ll be notified via e-mail when your disclosure packet is ready for initial signing. Almost all of your disclosures can be e-signed, allowing you time to conveniently review these documents online and sign electronically. The few documents that require a hand-written signature, can be printed and signed, then scanned and uploaded back into your personal online account.
Collect & Order
If needed, we’ll collect any additional documents at this time, and take care of ordering the third party services, such as the appraisal, title, etc. All of the documents pertaining to your file are then organized and packaged for underwriting.
Let’s get that loan fully approved and ready to close.
Once your file has been processed and packaged, we send it to our in-house underwriter for review. Your advisor and loan processor will work to submit a complete file, but from time to time there will be what we call “conditions” that must be satisfied for the underwriter to fully approve the file.
If your file is returned with conditions, don’t panic. This just means our underwriter still has some questions or needs additional documents before clearing it. We’ll work with you and our underwriter to ensure all conditions are met and satisfied as soon as possible.
Clear to Close
Once all conditions have been satisfied, our underwriter will issue final approval and we can prepare for loan closing.
Down the home stretch.
We’ll prepare your final closing documents and get a date scheduled for you to review and sign. The documents necessary to close will include agreements on the terms and conditions of your new mortgage. On a purchase loan, these will also include the agreements between you and the seller transferring ownership of the property.
Unlike initial disclosures, your final loan documents must be signed in person. But to make it easier, you can choose to use a mobile notary to sign at a convenient place for you, such as your very own living room.
Fund & Record
After your final documents have been signed, we will fund your loan. And if you’ve just purchased a home, title will be recorded making the house officially yours. Congratulations!