Last time, we discussed underwriting. Hopefully, we made the point that the quickest way to get to signing those loan documents is to have a complete package from the beginning. Here we'll follow the trail from approval to signing. Once any conditions are signed off by the underwriter, permission to draw the loan documents is given. This function is also handled by the lender and the documents are sent directly to the title company.
Timing here is also dependent on how busy the lender is at that point in time.
This can take from one to three days. Like the forms you need to sign for your loan officer at the beginning of the loan process, there are many forms which are standard on every loan and are simply modified for things like your particular rate, etc. As we mentioned in the article on the title company, the final numbers are worked up when the loan documents arrive. Here is where the closing statement is prepared, reflecting any credit the loan officer is giving you for points, etc. You probably won't end up reading every line of these documents.