How does the Loan Process work?

As a real estate professional, I can provide you with current financing information to help you in selecting a lender. The lender might be a bank, savings and loan or a mortgage company. You will be required to complete a loan application which will require personal and financial information, as well as documentation for income, taxes, etc.

What happens after you submit the Loan Application?

The lender will begin the qualification process including verification of information submitted on the application and appraisal of the value of the property you are purchasing.

The lender will require that you obtain hazard/fire insurance if you are purchasing a detached home. However, if you are buying a condominium, there may already be a master hazard policy on the building. About two weeks before you are scheduled to close escrow, you will be required to provide the title company with your insurance agent's name and phone number. This information will be forwarded to escrow and when they get your loan package from your lender they will contact your insurance agent with the correct information as required by your lender.

The lender will also require that you obtain title insurance and may have other requirements that will need your attention prior to the close of escrow.

The Process Step By Step

	Complete the loan application. An application fee may be required by the lender.
	The lender begins processing the application.
	The lending institution requests an appraisal of the home, a credit report, and verifications of employment and assets, such as bank accounts.
	The lender will provide a booklet containing specific loan information and a good faith estimate of closing and related costs.
	An estimate of your loan costs, in the form of an Initial Truth in Lending Disclosure Statement is issued.
	The lender evaluates the application, along with supporting documents, and approves the loan.
	Sign the closing documents and the loan is funded.
	The lender disburses the funds to the settlement or closing agent. Seller is paid and title to the home is given to the buyer.
	Appropriate documents recorded at the county recorder's office.

Click Here for a Map of the Area.

All information has been provided by Seller or other sources and has not been verified by Broker.
All interested persons should independently verify the accuracy of all information.

Homes listed in "Homes For Sale" are current listings. Inventory is moving so fast that these homes may have been sold. Other homes illustrated on this site are for demonstration purposes only. They are meant to show what types of homes are available in the area.

The Material on this site is provided solely for informational purposes and does not constitute an offer to sell, rent or advertise real estate outside of the State of California. Katie Gilchrest and the RE/Max Gold are not making any warranties or representations concerning any of these properties, including their availability. Information at this site is deemed reliable but not guaranteed. For more information, please visit our legal page."

Helping you buy and sell real estate in:
Antelope, Auburn, Cameron Park, Carmichael, Citrus Heights, Colfax, East Sacramento, El Dorado Hills, Elk Grove, Fair Oaks, Folsom, Foresthill, Gold River, Granite Bay, Grass Valley, Laguna, Lake of the Pines, Lincoln, Loomis, Meadow Vista, Nevada City, Newcastle, North Highlands, Orangevale, Penryn, Placerville, Pocket/Greenhaven, Rancho Cordova, Rancho Murieta, Rocklin, Roseville, Sacramento, Serrano, Shingle Springs, South Land Park, Sun City Lincoln Hills, Sun City Roseville

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