"The Home Buyer Safety Checklist System"

 That is the idea behind our proven system to insure a successful outcome when purchasing your home.

We are committed to clarity and transparency throughout the home loan process.

Phase 1 – Initial Consultation = Travel Planning

1

Needs Analysis – Discuss your wants, needs, and goals with your Mortgage Advisor. Get questions answered regarding buying and financing real estate.

2

Prequalification – Receive a verbal assessment of your qualifications based upon your income, assets, and budget.

3

Discuss Preapproval – Discuss benefits of obtaining bonafide loan approval and determine if right for you. If yes, move on to step 4.

Phase 2 – Pre Approval = Pre-Flight Safety Check

4

Fill out Loan Application Package – Fill application and gather necessary documents from your personalized "Document Needs Checklist" that is to emailed to you by your Mortgage Advisor.

5

Return all requested documents within 48 hours – Send in requested documents back to us by fax or email.

6

Pre Approval Review – in depth review of your personalized loan file outlining your pre-approval terms: (purchase price, down payment, loan terms, monthly payments and total cash needed to close).

7

Review "The Home Buyer Safety Checklist" – Review the proven process so the client understands the formula behind a successful home buying/financing experience.

8

Review Tips For a Smooth Loan Closing - Review DO's and DON'Ts to help you avoid unnecessary delays or issues with the closing of your loan.

9

Realtor Review - Realtor and Mortgage Advisor review pre-approval terms: (purchase price, down payment, loan terms, monthly payments and total cash needed to close).

Phase 3 – Home Search = Boarding the Plane

10

Strategize with Realtor – Client and Realtor outline purchase price range, property type, geographic location, ideal closing dates, special needs, etc.

11

Search for your Home Begins – Realtor begins comprehensive search of target properties for client.

12

Property Viewing - Realtor and client view target properties matching the client’s needs.

13

Make Offers –Realtor and client agree to write an offer based upon agreed purchase price and terms of closing.

14

Submit Offers - Realtors formally submits offer to seller’s agent.

15

Negotiate Best Terms for Client - Realtor negotiates with seller’s agent for best contractual term their client.

16

Offer Acceptance - Seller accepts contractual terms and Realtor reviews all final terms with client.

17

Make Deposit – Realtor collects escrow deposit from client needed to open escrow.

18

Open Escrow and Title - Realtor opens Escrow and Title and makes clients deposit into escrow.

19

Notify Mortgage Advisor - Realtor fax/emails copy of contact, addendums, and escrow and title contact information to Mortgage Advisor.

20

Sign and Return Loan Application, RESPA Disclosures and Letter of Intent to Proceed – Sign and return all disclosures ONLY AFTER CONTRACT ACCEPTANCE & PROPERTY ADDRESS HAS BEEN DETERMINED.

21

Schedule Inspections - Realtor schedules home and pest inspections if required.

22

Estimated HUD-1 - Escrow must provide accurate HUD per RESPA rules so GFE & HUD-1 match EXACTLY!

23

Check for TILA changes by .125% - if so redisclose all documents via Doc Magic our secure FTP server

Phase 4 - Loan Approval = Take Off & Flight

24

Application & Disclosures Returned – Client & Mortgage Advisor discuss Phase 4 steps, updated income and asset docs as needed, timeframe for formal loan commitment, loan contingency dates and weekly status updates.

25

Coordinate Appraisal Payment – Give credit card information or call in payment to appraisal management company per HVCC compliance regulations.

26

Escrow & Title Confirmed Open - Introduction call and confirms all documents have been ordered

27

Special Documents - Mortgage Advisor Team orders HOA Certs, Septic, Foundation, Soil, VOE, VOR, VOD, etc.

28

Update Paperwork within 24 hours – Client sends in documents supporting income and assets per step 24.

29

Identify Insurance Company – Client identifies preferred insurance carrier with Mortgage Advisor Team.

30

Attend Inspection – Attend home inspection and pay inspector

31

Send copy of cleared deposit – Send copy of cleared deposit to Mortgage Advisor.

32

Sign and Return Escrow Paperwork – Sign and return escrow paperwork to escrow.

33

Appraisal In HVCC Compliance - Client to receive copy of appraisal and sign HVCC disclosure within 3 days of receipt!

34

Send Appraisal to Insurance Agent - insurance agent prepares binder and reviews terms with client.

35

Escrow and Title Confirmed In - Review instruction and report for possible errors, emissions, or issues.

36

Formal Loan Submission - Appraisal, Inspections, Title Policy, and clients updated income and asset documents are submitted for full Loan Approval.

37

Review Loan Approval – Mortgage Advisor and client review approval and work on conditions needed to order loan documents.

38

Discuss RATE LOCK - with client and double check for APR +/- by .125%, if yes redisclose all forms.

39

Send Additional Paperwork within 24 hours – Fax/email additional items needed for full approval and to clear loan contingency.

40

Loan Contingency Removed - all additional items signed off and agent notified.

41

Request Updated HUD & Insurance Binder – Confirm with escrow and get revised HUD to match loan approval, rate lock, and final insurance insurance binder.

42

Order Loan Docs - Final loan docs are ordered and will be sent to escrow for client and seller to sign.

Phase 5 - Signing Loan Documents = Approach

43

Docs Confirmed at Escrow – Client and Realtor are notified that signing appointment can now be scheduled.

44

Review estimated Closing Statement and Signing Appointment – Discuss funds needed to close with Mortgage Advisor or Escrow Officer and schedule signing appointment.

45

Loan Document Signing – Sign loan documents at escrow, client then "Wires Funds" per escrows instruction, FYI sending in cashiers check could delay 3-5 days!

46

Final Walkthrough with Realtor – Resolve any last minute issues with house.

Phase 6 - Loan Funding = Landing

47

Bank Final Review - Be prepared to gather last minute paperwork necessary to fund your loan in a timely manner.

48

Send Funding Paperwork same day or within 24 hours – Fax/email remaining paperwork to Loan Coordinator or Escrow.

49

Wire Funds – Bank reviews signed docs and then bank wires funds needed to close into escrow account

50

Escrow Balances Account - Escrow balances all figures then sets up recording of deed.

Phase 7 - Recording = At the Gate...time to deboard the plane!

51

County Recorder - confirms recording numbers with escrow.

52

Receive Keys – FINISHED! Congratulations.