We've designed our site to make it easy for you. This brief diagram will give you a good jump-start!

Event	Who Does It	Details
Review our loan information	Applicant	Before you begin an application, please reviewing loan information from: Our Homebuying Center Our Refinance Center Our Equity/Credit Line Center Our website
Apply	Applicant	Complete an application. This will set the process in motion.
Loan Originator Contact by Phone	Carmel Mortgage	Your first connection with your loan originator will get a dialogue started which will insure that you get the loan that you want.
Credit Check & Prequalification	Carmel Mortgage	We pre-approve you using our artificial intelligence software, or underwriting your loan in-house. Our system will assess your credit, income and assets to quickly determine what loan(s) you qualify for.
Required Loan Documentation and Paperwork	Applicant/Carmel Mortgage	Paperwork is still a big part of the loan process. We will mail you forms to sign and a document checklist.
Rate Lock & Appraisal	Applicant/Carmel Mortgage	Once we determine your loan amount, type of loan and rate, your loan agent will recommend the appropriate time to lock the rate with a lender.
Loan Submission for the Best Rate/Program	Carmel Mortgage	Once all of the paperwork is assembled by our processors, your package will be forwarded to underwriting for approval.
Underwriting and Approval	Carmel Mortgage/Lender	An underwriter will review the package and fax an approval to Carmel Mortgage and any conditions necessary for the approval. Most conditions are taken care of by Carmel Mortgage.
Clear Loan Conditions	Carmel Mortgage	Our closer gets the conditions from underwriting for final preparations to close.
Loan Documents Delivered	Carmel Mortgage/Lender	Loan documents are prepared and delivered to the escrow agent. The escrow agent will call you to arrange a signing. This is coordinated by your loan originator, your Realtor and the escrow agent.
Loan Funding	Escrow/Carmel Mortgage/Lender	Once the signed documents are returned, they will be reviewed. The escrow agent will request a wire transfer of the loan funds, close and record the transaction.

The Loan Application Process
We will want to verify certain information about you and the property. Borrower information will include verification of income and employment, assets, and your credit history. You, the applicant, as part of your application process, will usually provide some of this information. Other information, such as your credit history, will be obtained directly from the credit bureaus.

For the property itself, we will order an appraisal in most cases and a legal description of the property, such as a title report. We have 'approved appraisal company" lists, so if you have an old appraisal, we may be able to accept it.

The Loan Approval Process
During the "processing" and/or "underwriting" period, your credit, assets, income and other determinants are checked and compiled. Your loan is either approved with conditions, or approved without conditions or declined. Conditions are further documentation or checks we will need to finalize your loan before funds can be dispersed. Some borrowers become frustrated by conditions that surface at the end of a loan transaction and can't understand why they are being raised so late. Final conditions are sometimes added for final approval. We do our best to help you through the process - remember, we are simply trying to meet conditions imposed by other sources.

Since most loans are sold and serviced by other parties, the lender must verify that the loan can be sold upon close. Not to worry, no other terms of your loan can be changed after you have signed your final loan documents. When all conditions are met, your loan documents are drawn up and forwarded to the place of settlement or closing, typically a title and/or escrow company.

IMPORTANT NOTE:
Do not make any adverse changes to your financial "picture" during the loan process. Things as simple as applying for a new department store credit card to purchase a new appliance will at least force an explanation to be given and at worst may cause your loan not to fund and the approval to be withdrawn. Many times a final credit report update and additional calls to your employer may be required before funding the loan. Be patient and your loan will flow smoothly.