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How the Mortgage Loan Process Works
How the Mortgage Loan Process Works
Once you've completed the loan application, you might wonder what the next steps in the mortgage loan process are and how the behind the scenes will work.  There are several steps to take you from open to close and our goal is to get you there with as little stress as possible!

The first step is to move your loan into processing where all of the verifications will be done.  We call this the "order out" process. During this period, the processor working on your file will order title work and title history, property tax records, condominium questionnaire if applicable, homeowner's insurance policy, verification of assets and employment plus any other documents essential to your loan approval.
In order to verify this information the lender will need copies of your last 2 years tax returns, pay stubs from the last 30 days and bank statements from the last 2 months. All told, the process can take 2-3 days or more depending on the response time to our requests.   Unfortunately for everyone involved, second requests are more normal than not.
We will also order the appraisal during this period as long as the home inspection has ... more

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