Devise Financial Loan Process
1) Submit completed loan application with all necessary documents
2) Contingency Period (including)
- Buyer’s approval of Seller’s Real Estate Transfer Disclosure Statement
- Buyer’s approval of Preliminary Title Report
- Physical inspections/pest inspections
- Property appraisal
- Loan placement/approval/underwriting
3) Homeowners Insurance Coverage
- Determine with Insurance Company proper coverage
- Determine if you need flood coverage
- Give insurance agent escrow information. (They will need to order a copy of the policy for the new lender prior to escrow close.)
4) Signing Documents
- Documents will usually be signed at the Title Company
- We will ensure the Title Company receives loan documents
- You will receive copies of Title documents and Lender documents
- You will need to bring a current photo ID to signing
5) Down Payment and Closing Fund
- Bring a cashier’s check to the Title Company a few days prior to closing
- The Escrow Officer will provide a Buyer’s Estimated Closing Statement, which will itemize your costs and credits with estimate total monies due.
6) Funding
- The lender will send funds to the Title Company
7) Close of Escrow
- The Deed will be recorded at the County Recorder’s office by the Title Company. (You will receive the original back from the County Recorder in approximately six weeks.)
- Your Realtor will coordinate the transfer of the key with you!
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