Now that you are pre-approved for a loan...did you know that there are several people who work hard to assist you with this approval process. It is not just the Loan Officer.
There is the LOAN PROCESSOR.....who makes sure that all the correct steps are taken, such as ordering the credit report, the appraisal, and compiling all the necessary documents needed for the file.
Let me tell you....it's good to know this person because he or she will be a valuable source to provide information to you about the status of your loan and can answer some of the questions you may have regarding the appraisal or about your good faith estimates.
Then there is the LOAN UNDERWRITER...who actually gives final approval of the loan. This is the person who gives the all clear that the loan has been approved.
I know what you are thinking.....what happens next? what papers do I need to sign?.....Don't worry I'll keep you posted!
