Preparing For The Home Buying Experience W Chad Mullenix

Dated: 04/10/2016

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Loan Officer has received your application, you will receive initial disclosures that will explain the loan program and costs associated with the loan along with other required federal and state information. Once you confirm your intent to proceed with the loan, your Loan Officer will request a number of supporting documents. Once your Loan Officer has received your documentation, the loan approval process can proceed. 

Processing – The loan processing team is responsible for verifying the accuracy of the information you provide in your application. In addition, they will review your credit report, order an appraisal, title commitment and other third-party information necessary to submit your loan into underwriting. 

Underwriting – Once fully processed, your loan will be submitted into underwriting for a decision. CMG Financial staffs many of the most experienced underwriters in the industry and can typically complete the initial review within 24 to 72 hours. If there are additional supportive documents needed, our underwriter will condition for those items and work closely with processing as well as your Loan Officer to help you satisfy those requirements. 

Document Signing – Once the application has been approved and all underwriting conditions have been met, your loan will move on to the next stage. Loan documents will need to be signed and executed by a notary of public prior to funds being disbursed or are disbursed at signing. Either way, CMG Financial is equipped to facilitate both procedures expeditiously so that you can close your new home purchase on-time and without hassle. 

Funded and Recording – Once the title company receives the funding wire from CMG Financial, the security instrument is recorded with the applicable public recorder. Escrow is now officially closed and you are ready to move in! 

Contact me today to learn more about beginning your home loan process. 

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Ernie Hatton

Ernie Hatton has been ranked as one of Austin's top 20 realtors for the past 11 out of the last 13 years. He has sold over one thousand nine hundred homes in the Austin area since 2000. During 2016, E....

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