Our Stress-Free Loan Process

Feeling intimidated by the loan process? Don’t be! Money Street Mortgage makes it easy—no stress, no worries, and no anxiously waiting for communication. Here’s how we do it.

STEP 1: Apply
Our home loan experts will work with you to complete the application, talk about your current situation and your goals, and start the application process. At this time, we make every effort to obtain all pertinent documentation in order to avoid problems and delays.

STEP 2: Order Documentation

Our years of experience dealing with different lenders helps us find the best interest rate for you. We work with over thirty different lenders and each lender has different “overlays” or guidelines specific to their organization. At this step in the process, we order the documents needed to close your loan.

STEP 3: Analyze, Wait, Communicate

Waiting for documentation is always the hardest step, but we use this time efficiently to analyze each piece of information as it comes in. During this stage, we look for any potential problems that may arise and request additional items we need. We also keep you and your realtor updated on the loan’s progress through weekly status reports.

STEP 4: Submit the Loan

The wait is finally over! With all the necessary documents in hand, we submit the loan to the loan officer for review and make sure you receive the best rate and terms. The loan processor then assembles the loan package and submits it to the underwriter for approval.

STEP 5: You’re Approved!

Loan approval generally takes anywhere from 24 to 72 hours. Once you have been approved, we will notify you and let you know about any loan conditions that must be addressed before closing.

STEP 6: Closing

It’s time to close on your new home! Are you ready? Here’s what to expect:

  • Draw Loan Documents—Within 1 to 3 days after the loan approval, the loan documents (including the note and deed of trust) are completed and sent to the title company. The escrow officer coordinates with the borrowers to review all figures and arrange for final signatures.
  • Funding—Once all parties have signed the loan documents, the lender will review the package. If all the forms have been properly executed, the lender issues the check to fund the loan.
  • Recordation—When the title company receives the funding check from the lender, they record the note and deed of trust at the county recorder’s office, making the lender’s security for the loan a matter of public record.

Escrow is now officially closed!

Congratulations! You’re a homeowner!

It’s time to take the keys, settle in, and enjoy the home of your dreams.

Ready to start your application?

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