22 Days to Funding
If you were to start the funding process on July 10, 2025, it's possible that the process could be completed in 22 calendar days (16 business days)* by August 1, 2025 assuming no delays and that all of your documents are submitted on time.
* Accounts for Sunday and Federal Holidays
Estimated
Funding Milestones
Mutual Acceptance
Mutual acceptance refers to the date that all parties have signed the purchase contract and terms are finalized. Now that the offer has been officially accepted by the seller, it's essential to deliver the fully executed contract to the loan originator within 24 hours of acceptance. Timely submission of the contract is a key step in keeping the closing process smooth and efficient.
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 include your Loan Estimate, which outlines the terms of the loan you discussed with your loan originator.
Initial Approval Date
This is when a loan is conditionally approved by underwriting. The approval outlines remaining conditions such as appraisal, home insurance 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. You must receive your closing disclosure at least 3 business days before you are eligible to 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.
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.
Close of Escrow Date (COE)
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.