Step #1.) Drop off/wire your deposit.
- If you would like to personally drop off your deposit check, please contact us so we can provide you with escrow’s address. Please make sure the deposit comes from the same account(s) which you have already provided for documentation purposes and not from undocumented sources.
If you are wiring your deposit into escrow, ask us to provide you with the wire instructions for you to do so. The wire would need to be performed at your nearest banking branch. Provide them with the wire instructions and make sure you call escrow to verify that the account number and amount is correct before wiring the funds over.
Step #2.) Order the home inspection. (Not required but recommended)
- The home inspector will go through the property and inspect the roof, foundation, plumbing, electrical, etc and provide you with a home inspection report with their findings and recommendations.
You are free to choose any home inspector you choose. If you would like our recommendations please ask!
The home inspection is highly recommended, but not mandatory. You are free to attend the home inspection but are not required to. The home inspector will provide you with a home inspection report which will include photos and a detailed breakdown of all findings. You are free to contact the home inspector to discuss any matter as you choose.
Step #3.) Sign the initial loan disclosures.
- We have requested various documents from escrow so we can work on sending you the initial loan disclosures. The initial loan disclosures will be sent to you (and your co-borrower(s) if applicable) via email for you to review and sign. The initial loan disclosures consists of various federally mandated documents which you must fill out and sign.
The most important of them is the loan estimate which will have a breakdown of the monthly payment, estimated interest rate, and fees for your transaction. Keep in mind that this is just an estimate for disclosure purposes and will be likely to change as updates are made to your application such as when the appraised value is given and when you lock your interest rate.
4. Order the appraisal
- Once the initial loan disclosures have been signed, we will be able to order your appraisal. I will place the order for you and you will be receiving an email so you can complete the payment. The appraisal will be $450 - $600 depending on the home.
Once the appraisal order has processed, it will be placed into que for the order to be assigned to an appraiser so they can then work on providing us with an estimated appraisal date. This process can take 1-4 weeks so please be sure to sign the loan disclosures asap so we can immediately process the appraisal order.
No one can be present at the appraisal to avoid persuasion of appraised value. I will notify you with any updates as to the appraisal date or value once we receive the appraisal.