Loan Process
Loan Application
You're taking the first step towards buying or refinancing your home. Congrats! While this may seem like a daunting time, trust in us to help guide you home. To begin the loan application process, apply here.
Once you apply, a Clarity Home Lending Loan Officer will get back to you within one day to review your application and mortgage goals. This is where we will select one of our incredible loan products that is tailor-made to you.
Loan Set-Up
During the loan set up process, we may ask for additional documents from you if they were not initially provided. We will send you disclosures to sign that explain the loan type, locked interest rate, and much more. During this time it is recommended to hop on a call with your Loan Officer to review these.
This is also the time we will order an appraisal for the property your purchasing or refinancing.
Loan Processing
Loan processing is the time between applying and closing is known as “mortgage processing." Clarity Home Lending reconfirms the your records during mortgage processing to ensure accuracy and completion of all the necessary data needed to send the loan to our underwriters.
Underwriting
Evaluation of credit and property performed by our Underwriters in determining adherence to our guidelines. During this time, you may be issued a "conditional approval", which means your loan is approved provided certain conditions are met. Generally some additional information or documents we will need to obtain from you.
Closing
The day you've been waiting for! Closing Day! Clarity Home Lending will issue you a 'FInal Closing Disclosure' three business days prior to your closing day. The final closing disclosure has the final and settled figures which shows your cash-to-close and your monthly payment. On your closing day you will meet at the title company you have been working with during the transaction to sign your documents, and take your celebratory closing photo of course!
Once both Buyer & Seller sign, Clarity Home Lending needs 1-2 hours to 'fund' your loan, making it official to where you can get your keys and begin moving in!
Post Closing
You did it! Please feel free to call us for any assistance you may need after closing. Thank you for the opportunity to serve your mortgage needs.