Buying

Example of the Underwriting Process and Estimated Timing

Completed Loan Status

(Estimate)

Day 1	Loan has been submitted to underwriting
	The loan has been submitted to an underwriter for the initial review.
Day 3	Receive the Loan Estimate for review and provide Notice of Intent to Proceed
Day 6	File reviewed by processor and submitted to underwriting for initial review. Title work ordered.
Day 10	Initial review by underwriter for conditional approval.
	The Loan Officer and/or Loan Processor will contact the borrower for any additional items that are requested by the underwriter.
Day 21	Appraisal, title work, and any other conditions received and submitted to the underwriter for final approval review.
Day 23	Full approval and clear to close from the underwriter.
Day 26	Closing Disclosure provided to you by the lender for your review.
Day 29	You will need to wire funds to the attorney for closing or bring a certified check.
	The lender will wire the funds and send final documents to the attorney.
Day 30	Closing – Meet with the attorney, agents, and sellers to sign documents.
	You will need to have your driver’s license or other government issued ID.

Congratulations! The attorney “records” the transaction at the court house and you became a new home owner

WARNING: *Wire Fraud is Real*. Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions. DO NOT use instructions or phone numbers you may have received via e-mail.

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