The Loan Process Application - Fill out an application and provide supporting documents. Documentation - The lender typically requests a credit report, employment history, and personal financial conditions. Loan Submission & Approval - The lender will review your application and supporting documents, and submits your file for approval. Documents are Drawn - The lender will prepare your loan documents and forward them to the title company. Funding - The loan documents are forwarded back to the lender, and the lender sends the loan funds to the title company. Closing - The title company records the change of ownership at the county recorders office, and escrow officially closes.

Steps to Buying Residential Real Estate

Step 1: Choose a Realtor
Having decided to buy a property, the first step in the process is to select the Realtor® with whom you will be comfortable working with to get the job done. During our first meeting, we will listen to your wants and needs and walk you through the process.

Step 2: Get Pre-Qualified/Pre-Approved
A lender pre-qualifies you by determining what loan programs may be available to you and suggests programs that meet your short and long term plans. You will also find out what your monthly payments and down payment will be. A letter of pre-qualification or pre-approval from a lender enhances your position when presenting an offer.

Step 3: Find a Property
I will help you find a property that fits your requirements. I have the tools to help you find the right property in the right location at the best possible price.

Step 4: Make an Offer
Having found the home of your choice, I will do all the necessary research to help you structure an offer. I will draft the purchase agreement and explain all clauses and contingencies so that you are well informed to make decisions. When the seller responds to your offer, I will explain your options and negotiate with the seller.

Step 5: Manage the Escrow
Escrow is a process for handling the details of the transaction from the time the purchase agreement is accepted until title is transferred to the buyer. The neutral third party receives, holds, and distributes funds and documents and makes sure that the terms of the purchase agreement are carried out.

When all of the conditions of the purchase agreement have been met, you will sign escrow instructions and deposit the balance of your down payment and closing costs to escrow.

Step 6: Close Escrow
The ‘escrow closing’ signifies the change of ownership from the seller to the buyer and usually includes the execution and recording of the Grant Deed and Deed of Trust.