Initial
Contact -
GOOD-FAITH
ESTIMATE OF CLOSING COSTS, INTEREST RATE ARE GIVEN TO YOU OVER
THE TELEPHONE. IF TERMS ARE AGREEABLE TO YOU, YOUR LOAN APPLICATION
IS TAKEN VIA TELEPHONE , OR YOU CAN GO TO OUR SECURE SERVER APPLICATION
(CLICK here) FOR YOUR CONVENIENCE.
OR
YOU
CAN DOWNLOAD THE
APPLICATION
(WITH DOCUMENT LIST) FROM MY WEBSITE.
DURING
APPLICATION PROCESS, A DOCUMENT LIST IS DEVELOPED.
THE
DOCUMENT LIST IS SENT TO OU VIA EMAIL OR FAX.
|
WHEN
YOU RECEIVE THE APPLICATION KIT,
YOU FILL OUT AND SIGN THE DOCUMENTS IN THE AREAS
HIGHLIGHTED BEFORE THE PACKAGE IS RETURNED. |
WHEN
WE RECEIVE YOUR PACKAGE
THE
LOAN PROCESS BEGINS - TO FIND OUT MORE ABOUT THE
LOAN PROCESS, CHECK OUT "THE PATH TO LOAN APPROVAL".
|
Once
Your Loan Is Approved -
YOU
WILL RECEIVE A SIGNED COMMITMENT LETTER
VIA FAX, WITH THE ORIGINAL IN THE MAIL |
Closing -
IF
YOU'RE NOT ATTENDING A CLOSING IN THE
AREA WHERE THE PROPERTY IS LOCATED, YOU ARE
CONSIDERED A "MAILAWAY CLOSING."
YOU
WILL RECEIVE YOUR "FINAL FIGURE" (FINAL TOTAL CLOSING
COSTS/TOTAL OUT-OF-POCKET) PRIOR TO THE
CLOSING PACKAGE ARRIVAL.
A
CERTIFIED CHECK IS NEEDED, MADE OUT
TO THE AGENCY CONDUCTING THE CLOSING
(i.e., ATTORNEY OR TITLE COMPANY).
YOUR
SIGNATURE(S) MUST BE NOTARIZED.
AFTER
YOU SIGN ALL CLOSING DOCUMENTS AND THE RETURN
PACKAGE IS RECEIVED BY THE CLOSING AGENCY, THE LOAN IS
CONSIDERED CLOSED - YOU'RE AN OWNER !!!
IN
THE CASE OF A REFINANCE - APPLICABLE TO PRIMARY RESIDENCES
ONLY
- FEDERAL LAW REQUIRES A "72-HOUR, RIGHT OF RECISSION":
YOU HAVE THE RIGHT TO BACK OUT OF THE MORTGAGE REFINANCE TRANACTION
DURING THE 72 HOURS. THE 72 HOURS IS MEASURED
IN BUSINESS DAYS (I.E., 3 BUSINESS DAYS). |
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Copyright 1999
THE MAY MORTGAGE COMPANY
Last
Modified: Monday, February 11, 2002 1355 h
Michael
May, WebMaster
This site is under constant renovation/improvement/construction
The May Mortgage Company,
A Licensed Mortgage Brokerage Business
3960 Via Del Rey, Bonita Springs, Fl., 34134 |
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