| Step
#1 |
Loan
Application |
| • |
The
borrower provides financial information to an Alpine Mortgage
Loan Officer such as employment information, payment for monthly
bills, savings and other liquid assets. |
| • |
A
variety of loan programs are presented and one is chosen that
best suits the borrower's needs. |
| • |
The
Loan officer will provide a detailed analysis of the down
payment, closing costs and, mortgage payments |
| Step
#2 |
Request
for Approval |
| • |
Borrower's
financial information is submitted electronically for loan
analysis and approval. |
| Step
#3 |
Appraisal,
Title And Escrow |
| • |
Alpine
Mortgage Loan Officer orders the following: |
|
Appraisal to determine market value of the property
Title report to
determine any liens or encumbrances on the property.
|
|
Escrow
company to open escrow and to prepare for closing date. |
| Step
#4 |
Request
for Final Approval |
| • |
When
the "property package" is completed, including a
finished appraisal and title report, it is combined with the
previously approved "credit package"' including any
conditions, and set for final approval. |
| Step
#5 |
Closing! |
| • |
The
closing documents are sent to the escrow company. |
| • |
The
escrow officer completes their portion of the closing documents
and an appointment to sign is made with the borrower. |
| • |
Normally,
there is a lag time of one to two days between the document
signing and the actual loan closing. |
| • |
Documents
are recorded and title to the property transfers to the
borrower. |
|
"The entire
process can take as little as 1 - 3 weeks"
|
