So, you’ve found a great house and you’ve set out to get a home loan. There are a lot of people behind the scenes who’ll be working to make you that loan. If you start the loan process knowing who the players are, you’ll feel a lot more comfortable while you await the final decision. Your loan officer will take your application. It’s crucial you have a good rapport with this person, as he or she will analyze your financial situation in detail and find the best loan possible for you. The loan processor takes your application to the next level. He’ll gather all the necessary financial paperwork from you and will collect any fees you might have to pay for services like credit reports and appraisals. 

Whether you are approved for the loan you want is a decision which rests largely in the hands of an underwriter. That person confirms you are a good credit risk and verifies the property you want to buy is actually worth the loan amount. Although you’d probably like to buy your home today, it typically takes anywhere from two weeks to two months for these lending professionals to determine if your loan’s approved. So, sit tight and know there’s a team of experts working to make your dream home a reality