Consider These Mortgage Basics
We are committed to making your home financing smooth and simple with our in-house processing and Simple Process. From the beginning you will know where your file is in the process. Our goal is to have your closing documents out days before the closing date.
This step is the step that gets you started in the right direction. Your First Florida Financial Originator will assess your credit worthiness, discuss your financing options and set the expectations. At this time, you will also be provided with our Rapid Close checklist, so you can get started collecting documents for your full application.
Your Loan originator will gather as much information as possible once you have made application. It is very important that you provide any items requested in a timely manner, so we can get you to the closing table as quick as possible.
Within one day of application your file will be given to our in-house processor (assuming you have provided all necessary requested documentation). He/She will make sure you have provided all necessary items to assist in getting a full approval. You will be emailed all loan documents for e-signature or wet signature by the processor and/or underwriting lender.
Your file will be submitted to underwriting within 3 days of being received in processing. (pending all requested documents have been rec’d and/or signed) Underwriting decisions are made within 2-4 days.
Approved with Conditions:
Approved with conditions means your file is approved but they may still need a few more items from you or about the property (Appraisal, title, survey, WDO inspections, etc.) You will work directly with your processor to resolve any items needed from you.
The underwriter will now review all the conditions you and the processor have provided and make sure they complete and what was required. He/She will then clear those conditions or request more clarification if they are still unclear about something provided. Once all conditions are cleared, your file is complete and is ready for closing.
Our processors work with the closing agents to make the final preparations for your closing. Your Loan Originator will email to you the closing disclosure and call you with your final closing figure as soon as rec’d by the Title Company/Attorney.