When My Home Loan Is Approved-What Next On My San Marcos, California Home.

When My Home Loan Is Approved-What Next On My San Marcos, California Home.

When your loan is approved and the loan documents are sent to the escrow holder handling your transaction, the escrow holder will prepare and estimated closing statement, which specifies in a debit and credit format, the disposition of your purchase funds. After you have signed all the necessary instructions and documents, the escrow holder will return them to the lender for a final review. this review usually occurs within a few days. After the review is completed, the lender is ready to fund your loan and inform the escrow holder.

Generally, your escrow instructions will be mailed to you. Your escrow officer or real estate agent will contact you to make an appointment for you to sign your final loan papers. At this time, the escrow holder will also tell you the amount of money you will need, in addition to your loan funds, to purchase your new home. Your loan funds will be sent directly to the title or escrow holder by the lender.

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