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Home Equity Loan

The Financing Process

  1. Buyer gets Pre-Qualified or Pre-Approved.
  2. Buyer puts home/propety under contract. 
  3. Loan application is completed and submitted to lender.
  4. Lender orders the appraisal, credit report, verification of your employment and assets.
  5. Lender provides a good faith estimate of closing and related costs, plus initial Truth in Lending disclosures.
  6. Lender evaluates application and support documents, approves loan and issues letter of commitment.
  7. Closing is held, loan documents are signed and the loan is funded.
  8. Lender disburses funds to the settlement or closing agent, seller is paid and title to the home is yours.
  9. Required documents are recorded at the County office of records.