Pre Approval
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Select Bank & Program best for borrower
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Borrower Sign Loan Packet & Mail to Processing
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Gather needed Seller Documents:
Purchase Contract
Title of Property
Condominium Regime
Property Tax Bill – copy of last paid
Water Bill – copy of last paid
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Processor submit to bank for conditional approval
(Takes about 72 hours)
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Once approved with conditions – Satisfy conditions necessary
(Approval is conditional pending appraisal)
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Lender to order SRE permits (14 to 45 days) & Appraisal (7-10 days)
Approval complete once appraisal reviewed and approved
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Lender submits an application with SRE permit to the bank and the trust is set up
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Closing Statement/Disbursement Instructions
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Lender & Borrower wire required balance into Escrow account
3-1 days prior to closing
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Buyer & Seller meet with Notario for signing
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Notario advises lender that signing/closing is complete and lender authorizes disbursement (occurs the same day as signing)
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Parties paid and closing complete
