Wikibooks

Real Estate Financing and Investing/Online Loan Application

< Real Estate Financing and Investing

Many lenders (such as www.lendingtree.com, www.eloan.com, www.ditech.com, and the like) have online loan processing system in place. Typical online loan application involve the following steps:

  •  Apply: Complete an online loan application. Before starting the online loan application you will need to create an account, to protect your privacy and security of your information.
  •  Review: A loan officer will review your application. The lender will notify you of their decision by phone and/or mail. Your loan agent will contact you within 24 hours to confirm information and discuss your loan application.
  •  Sign: The lender will assign a processor to your loan and set up a signing appointment.
  •  Fund: Once they approve your application, you sign the loan documents and you satisfy all closing conditions, they will disburse your loan proceeds, usually within 7-10 days.
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