18 Days to Funding
If you were to start the funding process on May 6, 2025, it's possible that the process could be completed in 18 calendar days by May 23, 2025 assuming no delays and that all of your documents are submitted on time.
Estimated
Funding Timeline
Mutual Acceptance
Mutual acceptance refers to the date that all parties have signed the purchase contract and terms are finalized. This is the legal start of escrow. Your offer has officially been accepted!
Initial Disclosures
Within 3 days of your completed application (including a property address), you will receive your initial disclosures. These documents have important information about the homebuying process, legal disclosures, and resources for homeowners. Most importantly, these documents will contain your Loan Estimate, which details the terms of your loan as we have initially set them up.
Initial Approval Date
This is when a loan is conditionally approved by underwriting. This means that once the conditions outlined by underwriting are satisfied, your loan will be fully approved! These conditions will typically include an appraisal of the property, a homeowners insurance policy, and any additional or updated documentation required from you.
Appraisal Received Date
Your appraisal is considered received when a full written report is turned in by the appraiser. Any conditions that impact the opinion of value (called ‘subject to’ conditions) must also be satisfied before we can fund your loan.
CD Signed Date
Your closing disclosure, or ‘CD’, outlines the finalized terms of your loan. This document must be signed at least 3 business days before you sign final loan documents at escrow.
Clear to Close Date
Your loan will be considered fully approved, or ‘Clear to Close’, once all underwriting conditions are satisfied. At this stage, all conditions related to credit, income, assets, and property are satisfied. Sufficient cash to close must also be verified.
Signing Date
This is the date of settlement, when final documents are signed. You’ll sign your documents with an escrow officer or closing attorney (depending on the state). You’ll be signing final loan documents as well as the legal documents to record a new deed of trust in your name.
Target Fund Date
Our Target Fund Date should match the Contract COE Date unless the Contract COE Date falls on a weekend or holiday. In that case, Target Fund Date will automatically adjust to the last business day before the contract COE Date.
Contract COE Date
This is the date on the Purchase Contract where the Borrower will officially take ownership of the home. On purchases, recording of the new deed should take place on this day.