Process Simplified

Familiarize yourself with the home mortgage process before you even begin house hunting

Step 1:

Get Pre-Approved

Step 2:

Get set up with an experienced VA Realtor in your area

Step 3:

Start Making Offers/Get Offer Accepted

Step 4:

Open Escrow

Step 5:

Lock Interest Rate/Have Merchants order the VA appraisal

Step 6:

Sign Loan Estimate along with other initial govt required paperwork

Step 6:

Loan Processor submits the file to the VA underwriter for approval

Step 8:

Underwriter Approves Loan – provide a list of any additional items needed before closing

Step 9:

Appraisal report received and signed off by underwriter

Step 10:

Closing Disclosure emailed be signed (Closing Disclosure should mirror the initial Loan Estimate)

Step 11:

Merchants sends the closing documents to the escrow company 3 days after the Closing disclosure is signed

Step 12:

You sign arrange with the escrow firm to sign the closing documents either at their office or they will send a notary to a convenient location for you.

Step 13:

The escrow firm sends Merchants the signed closing package (either electronically or by overnight)

Step 14:

Merchants wires the funds to escrow

Step 15:

The loan funds and then is recorded with the county

Step 16:

The transaction is now closed and you receive your keys.