Posted On: Friday, February 3, 2012 - 5:32pm | Posted By: Diane Hourany
Topics: Buyers and Sellers | Tags: loan application, loan approval, loan documentation, loan submission, mortgage broker
Your loan for your dream home is in process: you've submitted all
your paperwork, the mortgage broker has ordered your credit report and
the preliminary title report on the property, as well as an appraisal.
The next step is for your mortgage broker to submit all of this documentation to the lender.
Monday: Step 5 - Loan Approval
- Loan Submission - Once all the necessary
documentation is in, the loan processor puts the loan package together,
your loan agent prepares a cover letter, and your completed file is
submitted to a lender for approval.