What is the process to apply for a home loan?

The Loan Process


Prequalification occurs before the loan process actually begins. A licensed United Fidelity Funding loan officer gathers information about your income and debts, and makes a financial determination about how much house you may be able to afford.







Processing of your Estimated Loan

United Fidelity Funding will submit the application package to an automated underwriting system that will provide us with the necessary documentation needed for loan approval. In some cases, we may also manually underwrite an application package.



Our Underwriting Department is responsible for determining whether the application package prepared by the processor meets all the loan program criteria. If more information is needed, the loan is put into "suspense" and you will be contacted to supply more documentation.

If the underwriter approves the loan, United Fidelity Funding  issues a conditional commitment to lend, orders title insurance, works with you to clear all conditions to its commitment to lend, and then schedules a closing time. Conditions to the our loan commitment may include issues with credit, income, or the property that may arise during the processing and underwriting process.



The closing will occur after all conditions are cleared and we issues a full loan approval. At the closing, United Fidelity Funding "funds" the loan with a cashier's check, draft or wire to the closing agent, who disburses funds, in exchange for the title transfer to the property. This is the point at which you finish the loan process and actually refinance or buy the house, subject to the loan. Closings occur at different places in different states. For instance, some states require that the closing take place at a closing attorney's office, while others use a title or escrow company. You may also be able to close at your home.


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