The Loan Process

  1. Prequalification/Interview: The borrower meets with a lender who, through the course of the interview, gathers pertinent information and identifies any additional documentation that will be needed by the lender to obtain loan approval.
  2. Verifications: The lender will obtain all documents required, including but not limited to: credit report, appraisal on property, verifications of employment, mortgage or rent obligations, funds to close, landlord ratings, preliminary title report, etc.
  3. Loan Submission: The loan package is assembled and submitted to the selected underwriter for approval.
  4. Documentation: Supporting documentation is obtained as required. Lender follow-ups on any issues or problems that need resolution and requests any additional information or documentation required.
  5. Loan Approval: Official notification of loan approval is made.
  6. Documents are Drawn: Loan documents are completed and sent to the title company. The borrowers come in for final signatures.
  7. Funding: Lender reviews the loan package for completeness and accuracy. Funds are then transferred.
  8. Recording of Documents: The title company records the Deed and Deed of Trust at the County Recorder’s Office and the escrow process is officially closed.
  9. DHI Title is not a lender. Process details can vary depending on the lender you choose.
©2020 DHI Title. All Rights Reserved. DHI Title is a title insurance agency, underwritten by several national title insurers. For information specific to our underwriters, please contact your local DHI Title office.