The Home Loan Process

Guest blog post by Josh Flores, Senior Loan Officer with Supreme Lending.

House Exterior 1Today I’d like to share a brief overview of the home loan process.

Step 1 – Loan application
Loan officer meets with clients face to face, or through email or fax. Customize loan products to meet individual needs. Maintain communication throughout the loan process to closing.

Step 2 – Loan Set Up
A. Order residential appraisal and credit report.
B. Send required disclosures to client.
C. Send verification to applicable entities.

Step 3 – Loan Processing
The processor is your contact during all processing and compiling of information for loan submission. Email all information for loan processing to your processor.

Step 4 – Underwriting
Evaluation of credit and property in determining adherence to agency guidelines. This results in a status of approved, suspended, approved conditionally or rejected.

Step 5 – Closing
A. Lender sends prepared docs to the title company.
B. Title company prepares the settlement statement, then provides final closing figures.
C. Loan Officer will then call borrower with final figures.

JoshFloresPhotoJosh Flores is a senior loan officer with Supreme Lending. He attributes his success as a loan officer not to marketing genius but rather to his practice of working with one client at a time. His philosophy is to do the best, most professional job for each of his clients, which has led to his history of repeated client referrals.

Josh believes that education and experience are the two most important assets he can share with each of his clients, whether that client is an experienced investor or a first-time home buyer.

Josh received his Bachelor of Business Administration degree from St. Edward’s University, where he graduated magna cum laude. Josh and his wife have two children, a daughter and a son.