IFG have been able to streamline the mortgage procedure in 2016 to assist customers needing to complete their purchases or remortgages in 30 to 45 days.
USA Mortgages are a ten step process….
- Initial application & loan processing, collecting and packaging of all documentation to support your application. Once this is completed,
- Order international credit report (usually 5-10 days to get back).
- Agreements & disclosures will be sent out to be signed by borrower(s).
- Once returned an appraisal / valuation will be ordered for subject property.
- Appraisal process takes 7-10 business days.
- Updating loan package, at this time we may ask for additional documents if needed.
- Final underwriting for mortgage approval.
- Once you have approval you will need to obtain insurance on the property being purchased.
- Package goes to Title Company (Solicitors) at this time they will call to go over closing details and schedule closing / completion.
- Documents are signed and returned to the solicitors, and then loan is funded.