What Happens After I’ve Applied For My Loan?
Once you’ve supplied the 6 required piece of information and included any other information the lender deemed necessary, you’ll receive a Loan Estimate within 3 business days. Once all the information has been verified IF the loan is approved the lender will provide a Closing Disclosure to you three business days before loan consummation. T hey’ll usually set a date for loan consummation – which may also be at your closing meeting. Closing is basically transferring ownership of the property; consummation is commmitting to the loan itself. Once both are completed, you should be planning your move-in.