Step 5: Loan Processing
A loan processor serves as the coordinator between you, the loan officer, and the underwriter. They review your document package for completeness, order a home appraisal, request a title search, verify your employment and income, and check for any outstanding liens or judgments. If anything is missing or unclear, the processor will send you a conditions list requesting additional documentation. A clean, well-organized file moves through processing quickly.
Key Takeaways
- ✓ Processing typically takes 1–2 weeks depending on loan volume and document completeness.
- ✓ Respond to document requests immediately to keep your file moving forward.
- ✓ The processor orders the appraisal—you pay the appraisal fee upfront (usually $400–$700).
- ✓ Title insurance is ordered at this stage to protect you and the lender from ownership disputes.
What Happens During Loan Processing
Detailed content for this step is coming soon. Check back for in-depth guidance on loan processing, including common questions, timelines, and tips from our licensed mortgage advisors.
What You'll Need
- ■ Prompt responses to processor requests for additional documents
- ■ Appraisal fee payment authorization
- ■ Homeowners insurance policy (binding or binder letter)
- ■ Flood insurance (if property is in a flood zone)