Under Contract
The Loan Process: From Contract to Closing
At Exhale Lending, we believe that once you’re under contract, the process should feel straightforward and stress-free. That’s because we’ve already done most of the heavy lifting upfront, allowing you to focus on what matters—getting ready for your new home.
Here’s what to expect:
- Contract Documentation
- We’ll need a few key documents from you (or your agent), like the signed contract and initial deposit receipts.
- Note: Take photos of your deposit checks and remember to use an account that you have already disclosed to us.
- Sign Disclosures
- You’ll review and sign disclosures that outline the terms of your loan and give us the green light to move forward.
- Note: Your disclosures are ‘All-or-None,’ meaning if you sign everything but one, we receive nothing back. To help us move the loan forward, be sure to review and sign your disclosures promptly so we can order your appraisal and title work.
- Keep Documents Updated
- If your financial documents have “aged” during the process, we may request updated copies to ensure everything stays on track.
- Note: This isn’t always required, but be prepared to provide updated documentation – especially if you’ve been pre-approved for more than a couple of months.
- Our Tasks
- We’ll handle underwriting, coordinate third-party services (like appraisals and title work), and finalize loan approval.
- Note: We’ll keep you in the loop as we go, so you’ll never be in the dark.
- Your Tasks
- Respond to any requests quickly, secure homeowner’s insurance, and avoid major financial changes to ensure a smooth closing.
Note: Speed is everything. Getting documents and letters of explanation back quickly can help move the loan more efficiently to the closing table.
The final steps—like your Verbal Verification of Employment (VVOE) and receiving your Closing Disclosure—are simple milestones that bring you closer to the finish line.
At Exhale Lending, we’ve designed the process to be as effortless as possible for you. As long as you stay on track with a few key tasks, you’ll be ready to close on time and with confidence.
Exhale Lending is a mortgage brokerage firm that embodies trust, transparency, and a genuine desire to help clients achieve financial serenity. With our client-centric approach, expertise, and unwavering commitment to excellence, Exhale Lending is poised to make a meaningful impact on the journey towards homeownership for individuals and families alike.
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Exhale Lending, L.L.C.
Equal Housing Opportunity
Office Location
Cary, NC 27511