The following is a step-by-step outline of the Pre-Approval process.
The times quoted are average.
- Loan Pre-Approval application – 1 hour
- Receive Pre-Approval certificate – Approximately 2-3 business days
- Continue looking for a home
- Make offer to buy and upon acceptance notify Lake Mortgage
- Order final documentation (appraisal, survey, and title report) – 7-10 business days
- Contact closing department – schedule closing 5-7 days in advance
- Escrow officer – you will have about a 1-hour appointment with the escrow officer to sign legal documents – bring your certified funds