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Have you applied for a loan in South Florida but do not know what will happen next?

You may have chosen your Lender and have begun the Application process but feel as if there is no movement or are unsure about what is to come.

Once you’ve supplied the 6 required pieces of information (Purchaser’s name, Income, Tax ID, Property Address, Appraisal, and the Loan Amount) and included any other information the lender deemed necessary, you’ll receive a Loan Estimate within 3 business days.

Once information is verified and the loan has been approved, the Lender will provide a Closing Disclosure to you 3 business days before loan consummation (the time that you sign the Loan Documents and finalize the Loan). They’ll usually set a date for loan consummation – which may also be at your closing meeting. Closing is basically transferring ownership of the property; consummation is committing to the loan itself.

Once both are completed, you should be planning your move-in.

The process of financing and purchasing your property can be difficult. Let us guide and help you make your purchase as easy and worry-free as possible.

Here at Cambridge Title & Closing Services we make it our mission to take the worry out of your closing. Call us today at (305) 476-8745.