1st Milestone: Application 

Our process starts immediately after your credit report is pulled.  We complete your loan application, submit your loan to Desktop Underwriter for Automated Approval (AUS) and Email you a list of Required Documentation with a secure upload link.  We Lock your interest rate and Our Disclosures are sent via DocuSign for your signatures.  All of this is done on Day 1!

2nd Milestone: Loan Submitted  to the Lender.

Automated Underwriting Results, Disclosures, Title and Escrow reports and Financial Information are Uploaded to the Lender's secure wholesale web portal.  Within 24-48 hours Lender's Disclosures are issued, once acknowledged your loan file is sent to Underwriting.

3rd Milestone: Loan Approval!

The Underwriter issues Conditional Loan Approval.  We email you a list of additional documentation needed for Final Approval/ Clear to Close.  We work behind the scenes on all the other loan conditions, including ordering the appraisal, updating insurance, etc.

 

4th Milestone: Appraisal Completed

Appraisal Report is reviewed and the value is finalized with the lender. This is typically the last condition we need to move to Final Approval/ Clear to Close and at this time we request the Closing Disclosure to be issued.

 

5th Milestone: Closing Disclosure (CD)

The CD is the lender disclosure of all Terms and Fees. The Fees cannot change at this point. Once Electronically Acknowledged by you, there is a 3-day waiting period to get Loan Documents. If there any oustanding conditions they are completed and cleared during this time period.

6th Milestone: Loan Documents

Loan Documents/Final Docs for closing and funding are sent to Escrow. You sign them the next day at escrow or with a specialized notary service at your home (or preferred location).  We fund the next day. You request the wire of your funds from your source(s).

7th Milestone: Loan Funding!

Your wire(s) are received by escrow.  Proof of Liquidation of Funds is required and is uploaded to the Lender.  Lender then funds your loan and our job is now done! Now the responsibility moves to the Title Company. 

8th Milestone: Recording - Move In Day!!!

The Next Day the Title Company Records your Grant Deed and Trust Deed with the county.  Now it's official and the Keys are delivered to you by your Realtor.  Happy Home Ownership!

 

 

Simple? Maybe not, but we make ourselves available 8AM- 8PM throughout the process, and our team will stay proactive to keep things moving on your behalf. Different? Definitely!  When you're named BlueBOLT you're designed for speed!