Southwest Funding, L.P. - Loan Process
Step 1. - You
Find a Loan Officer which best suits your financing needs.
Step 2. - You
Initiate contact with your Loan Officer to discuss financing goals and identify documents needed for the loan application.
Step 3. Loan Officer / You
Loan Officer fills out the loan application with you, shows you different loans available and quotes interest rates, and helps you find out payments, costs to buy, and price you can qualify.
Step 4. Processing
Orders credit reports, orders appraisal on home, and sends out verifications of employment, residence, and assets. Communicates with you on items necessary for your loan closing, pre-underwrites and prepares loan packages to the underwriter for approval, and works with all parties.
Step 5. Underwriting Department
Decision makers, may need additional documentation from you, and works directly with the loan officer and loan processor.
Step 6. Title Company
Prepares settlement statement, and notifies you of the amount of check to bring to settlement.