(661) 284-1150 | 28368 Constellation Road | Suite 398 | Santa Clarita, CA 91355

Our Loan Process

The Loan Process

These guidelines will outline the general steps required during the loan process.

However, it is important to realize that the loan process is different depending on where you live. Our team of Santa Clarita loan officers can help you through the process step-by-step.

STEP 1 – Apply

The first step in obtaining home loan financing is to fill out a loan application (also called a “Fannie Mae 1003,” or a “Uniform Residential Loan Application”). Any of our experienced loan officers are available to assist you in filling out the loan application and answering any questions you have along the way. We will make an appointment to meet with you in person or over the phone to help obtain any necessary personal and financial information needed to initiate the loan process. During this step, we will also discuss different loan programs that can meet your needs, the interest rates available, and the financial and property qualifications for the loan program you have chosen.

STEP 2 – Information Verification

Once you have chosen a loan program and interest rate, the application has been filled out, and you have provided us with the necessary information, we will send out forms to verify your employment history and bank account information, obtain your credit report, order your preliminary title report from the title company, and order your appraisal. Once we have gathered all the necessary information, we will compile your loan documents and submit them to the underwriter for final approval.

STEP 3 – Approval

Your loan may be approved as submitted, approved with conditions, or a counter-offer may be made for your consideration. If there are conditions on the loan in order for it to be approved as submitted, we will work with you to satisfy these conditions. Conditions might include an explanation letter, copies of investment documents, copies of divorce papers, or any number of items that may help clarify your qualifications for the loan.

STEP 4 – Documents to Escrow

After the loan conditions (if any) are met and the loan is approved, the necessary documents are prepared for closing. The lender will draw up the necessary documents along with any (prior-to-funding) conditions that have yet to be met, and in most cases, send them to a title or escrow company near where you live or your attorney to be signed by you. Your escrow officer or attorney will arrange for an appointment with you when the loan papers are ready to be signed.

STEP 5 – Close Escrow

The task of closing the loan is normally the responsibility of the escrow officer, attorney, or lender. This person or company is responsible for gathering all of the necessary documents (deed of trust, promissory note, etc.) and making sure all documents are signed. Following the lender’s instructions, the escrow officer, attorney or lender then calculates the various prorations, charges, and adjustments (interest on your old loan, interest on your new loan, money for impound accounts for taxes and insurance, etc.), makes sure all of the funds are deposited (if any), and provides you with a settlement statement showing all of the costs involved in the loan. Whoever handles the escrow responsibilities also makes sure that all of the parties involved in the loan process are paid after the loan funds. Your loan will then close escrow and your new loan will be recorded.

We can help guide you through the loan process from the initial application to the close of escrow. Contact one of our experienced loan officers for more information or start your loan application online today.

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  • Rhona was professional and a pleasure to work with. She was always 5 steps ahead of me. And communicated throughout the process so I was always informed. Thank you Rhona!
    Beth
  • Rhona stayed on top of everything, always keeping me in tuned to the process. I would absolutely recommend Rhona to family and friends.
    James
  • Vytas was wonderful to work with. Our employment is a bit out of the ordinary and Vytas worked tirelessly to understand and communicate it to the underwriter. He helped us get approved and we are very happy.
    Marilyn
  • We needed to end our PMI payments, reduce or interest rate and shorten the length of our payoff time. Rhona put a package together that did all of this and then walked us through each step of the process. She was completely professional and went out out of her way to make sure we understood everything. We were very pleased!
    Mark
  • Overall, it was a good experience. They made sure to make it as easy as possible. Very satisfied with service, Vytas.
    Christian
  • I just wanted to thank you for all your help and the fantastic job that you did in getting me and Carol a jumbo loan on our house in Pasadena.  I was very impressed throughout by the care and professionalism of our interactions and of how careful you were and Affloans was not to mislead us in any way but to give us reliable information that we could plan on.  I shopped around in looking for a mortgage company and I did have two other irons in the fire, which were both big companies - one a very large bank and the other a very large retirement investment company.  Of the three mortgage companies I was working with Affloans was by far the most satisfactory, which is why I eventually went with the Affloans loan. The personal service and focus on our needs was far better than the other two companies.  So I am very grateful indeed for all your help and I look forward to meeting for a meal, as we did in London at the beginning of our mortgage application.  

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