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The flow chart below is a general outline of a mortgage loan process. This process will vary depending on the type of mortgage loan and the documentation required. Horizon Home Funding utilizes the latest technology for streamlining this process and in most cases your loan will be approved at the time of application. These instant loan approvals make the homebuying experience hassle free.
Borrower provides us with all personal information necessary to make a loan decision. This would include residency history, employment and income, asset availability, liabilities and credit history.
We will access your credit report and submit your loan via automated underwriting for an immediate loan decision.
Complete loan application paperwork and sign all disclosures.
We will validate all personal information provided at the time of application.
After we receive an executed contract for purchase, we order the appraisal to determine the market value of the home you are buying.
Once the loan package is complete the loan is submitted for final underwriting validation.
If the underwriting validation requires additional information these conditions must be satisfied prior to the funding of the loan.
After all conditions have been cleared by underwriting, the closing package will be ordered and prepared. The closing will be scheduled and all documents will be signed at this time.
*There are additional settlement providers during the course of this process. They include but are not limited to, title companies, attorneys, building inspectors, surveyors, pest inspectors, mortgage insurance companies, etc. These companies are traditionally coordinated by the realtors, buyers & sellers, and the mortgage company. They all play a key role in the home buying process. For more details, call Horizon Home Funding at 407-647-3377.
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