What Happens After Contract is Processed?
The Closing Process
LENDER
CLOSING AGENT
VERIFICATION OF EMPLOYMENT, ACCOUNTS, CREDIT REPORT AND APPRAISALS ORDERED
SIGNED CONTRACT IS FAXED TO TITLE AMERICA
ALL INFORMATION GATHERED FOR THE BORROWER AND SUBMITTED FOR LOAN APPROVAL
TITLE AMERICA EXECUTES THE TITLE SEARCH PROCESS
LOAN UNDERWRITING DEPARTMENT APPROVES OR DISAPPROVES OF THE LOAN
MORTGAGE AND LIEN PAYOFFS ARE ORDERED
OUTSTANDING CONDITIONS REQUESTED – CLOSING DATE CONFIRMED AND PACKAGE SENT TO CLOSING AGENT
TITLE COMMITMENT IS TYPED AND FAXED TO LENDER
AFTER THE APPRAISAL, THE LENDER NOTIFIES CLOSING AGENT OF FINAL LOAN APPROVAL
CLOSING PACKAGE IS RECEIVED AND HUD-1 SETTLEMENT STATEMENT PREPARED. AFTER HUD-1 APPROVAL IT IS RELEASED TO THE BUYERS AND SELLERS
DOCUMENTS SIGNED BY ALL PARTIES, ESCROW IS FUNDED AND DEEDS SENT TO RECORDING
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Lowest Closing Fees!
At Title America, we believe in transparency and affordability. Our commitment to you? Ensuring a seamless closing process without breaking the bank. With our competitive rates and dedication to keeping closing fees low, we prioritize your financial well-being while delivering top-notch service.
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904-262-6400
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