Process Timeline

DESCRIPTION FOR LOAN PROCESS:

  1. Forward documentation to Lisa for All borrowers
  2. NEED: https://lisamelby1.com/application-documentation-needed/
  3. The information you provide will be entered into the Lender portal
  4. The lender will send all borrowers a link to review and approve their application(s)
  5. Lender will email you to acknowledge you are applying for a loan, agree to electronically receive and approve the documents, please click through and agree.
  6. Lender will issue you a Loan Estimate with your fees and points (only if applicable) once you have identified a property, made an offer and have it accepted by the Sellers
  7. Lender will review the preliminary approval documents and application we submit and issue a conditional approval or a denial
  8. An appraisal will be ordered once we determine we can meet all the lender conditions
  9. Lender may request additional documentation
  10. Lender reviews the documents and may require additional information from documents you provide
  11. If no additional information is required the lender clears us to doc the loan (send loan documents to title to close)
  12. The lender will issue the Closing Disclosure
  13. I order the loan Docs (documents) from the lender to include Loan Amount, Interest Rate, Payment and disclosures to close
  14. The lender sends the docs to title and title prepares the Final Closing Statement
  15. A Notary will meet you at your home/office to sign the loan documents
  16. You will receive a complete copy of everything you’ve signed
  17. The lender will receive the documents back, order a Wire to Fund loan, payoff your existing lender OR seller
  18. There is a mandatory 3 day right of rescission that starts the day after you sign IF it is a refinance
  19. Once the 3 day right of rescission is complete the next day the loan funds
  20. The following day the loan is recorded (both of these functions performed by the lender and title)
  21. The entre process takes approximately 21 to 35 days

Lisa Melby
Firestone Financial
CA 0843024 | DRE 01230770 | NMLS 298325 |DOI MT 742264
4010 Moorpark Ave., #104, San Jose, CA 95117
e: FirestoneFinancialEvents@aol.com
o: (877) 685-6631
f: (408) 351-4277

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