The Loan Process

  • July 14, 2014

Don’t let the loan process deter you from your dreams of homeownership. When broken down, the loan process is actually not that intimidating. Pair your knowledge with an experienced and professional Mortgage Consultant and your homebuying journey will go much more smoothly. These 7 steps make up the mortgage loan process: 
Apply: Pertinent information is gathered and escrow is opened with the Title Company.
Verify: All information is verified for accuracy.
Submit: Your Mortgage Consultant processes documentation for the loan and submits it to an Underwriter for review and decision.
Approve: Upon approval of the loan, all parties will be notified and any outstanding conditions will be clarified and received before the final loan documents can be drawn.
Draw and Sign: Loan documents, including note and deed of trust, are prepared and sent to the Title Company. The Escrow Officer informs borrower(s) of how much money is needed to close the loan and final signatures are then required.
Fund: After signatures, the documents are returned to the lender for review. Upon confirmation that all necessary requirements are met and the loan is in order, your loan will be funded.
Record: Once the loan is funded, the Title Company records the security documents with the county and it becomes a public record. Escrow is closed, the final Title Policy is issued, and the buyer receives the keys. Congratulations on your new home!
We believe it is important for a borrower to be informed and feel empowered by their knowledge of the loan. It is important to ensure borrowers are informed and empowered by their knowledge when it comes to making loan decisions. Familiarize yourself with these seven simple steps and the homebuying process will not be nearly as daunting as you originally thought. Not to mention there are dedicated Mortgage Consultants prepared to guide you through the system and share their knowledge and skills to provide you the best service possible.

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© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at To verify our complete list of state licenses, please visit and NMLS Consumer Access (