Sunday, April 24, 2011

Kentucky Mortgage Loan Process

 Kentucky Mortgage Loan Process
Check off each item as we work toward a smooth & timely closing

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Loan application completed online date __________
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Submit “Items Needed” For Credit check/Pre-Approval to l/o date __________
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needs.
Mortgage Analysis Consultation with l/o to choose best program to meet yourdate __________
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Sign loan application and mortgage disclosures w/ lo date __________
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Purchase & Sale Agreement Submitted To lo date __________
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Home Inspection date (advised) date __________
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Loan is submitted to underwriting dept for credit approval date __________
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Appraisal ordered (complete within 3 days) – COD payment is required date __________
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Lender underwrites appraisal and issues a "Conditional Approval" date __________
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We gather final “conditions” from underwriter for full/final approval date __________
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Lender reviews conditions and issues "Clear to Close" date __________
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Title & Escrow will call to schedule a signing of closing documents date __________
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HUD (settlement statement)
Lender sends closing instructions to title company to create closing documents anddate __________
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Review Settlement Statement with Dan 48 hours before Escrow/closing d ate __________
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Sign final loan papers at title. Home is your w/in 24 hours of signing date __________
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***Please be sure to bring picture identification to closing***

ORIGINAL CLOSING DATE
______________________________________ date __________
Purchases
early the next business day.
will fund the same day of closing if done early in the day, if not the wire will be received
Refinances and cash outs
day after the closing. (Saturdays count in the rescission period, but Sundays do not.)
have a "Three Day Right of Rescission" and will not fund until the fourth
Items Needed Checklist:
statements, last month’s pay stubs, copy of social security card & driver’s license, bankruptcy and/
or divorce certificates if applicable
2009 & 2010 W-2’s and Tax Returns, 60-days bank and investment account
Please Do Not Hesitate To Contact Me Directly If You Questions:

502-905-3708  ph
502-813-2795 fax
jlobb@keyfinllc.com