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With the assistance of your Mortgage Consultant, closing a loan with Real Estate Mortgage Network will be an efficient, pleasant and ultimately rewarding experience. Borrower - Contacts Loan Officer for financing information
- Gathers information needed for application
- Starts looking for a new home
Loan Officer - Discusses qualifying, monthly payments and cash needed for closing
- Explains various loan programs available and quotes interest rates
Processor - Communicates with Borrower on items necessary for loan closing
- Prepares loan for full approval and ensures information received meets requirements
Underwriter - Renders final decision on loan
- Requests additional documentation (if needed) and communicates to Processor
- Works directly with Loan Officer and Processor to approve loan
Closer - Assembles package for closing day
- Sends package to Closing Attorney’s office
Closing Attorney - Prepares Settlement Statement and e-mails it to the Processor and Loan Officer for review
- Processor or Loan officer review with you the figures and cash for closing 24 hours prior to closing
- Processor or Loan Officer e-mails Settlement Statement to all parties 24 hours prior to closing
Closing - Takes places at Escrow Agent’s or Attorney’s office
- Bring a certified check to closing (payable to yourself) with a valid ID
- Bring Homeowner’s Insurance with paid receipt for one year
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