Mortgage Approval Process and Timing

Immediate actions:

  • Meet with Marlin to sign disclosures and provide copies of documents needed to process your mortgage.
  • Complete eConsent registration – sent to your email address(es). ALL borrowers.
    • Failure to complete the eConsent will delay your closing by 3 business days!
  • Provide Additional Documents – if need.
  • Inform your insurance company that you are buying a home and ask what they need from you to begin coverage.
  • Marlin and team will order appraisal, title work and home insurance binder.
  • Inform Marlin if anything unusual comes up on the home inspection that would jeopardize the purchase.

In about 2 weeks:

  • We will email your appraisal report to you. We will let you know if the value is acceptable and if any repairs are required.
  • Your underwriter will give us preliminary approval, pending additional documentation. Submit any additional documentation as soon as possible.

Approximately 2 weeks before closing:

  • We will need ALL documents approximately 2 weeks prior to closing.
  • When your underwriter has signed off, your file will go to our closing department who will work with your closing attorney to prepare final numbers. We will email closing details to you.

3 days before closing:

  • Our closing department will send the Closing Disclosure (CD) and an acknowledgement of receipt of CD. Please acknowledge immediately. Any delay will push off your closing. Federal law requires your acknowledgement 3 days prior to closing.
  • Arrange for funds to go to the closing table. Get wiring instructions from the closing attorney and wire funds at least 2 days prior to closing OR get a cashier’s check from your bank.
  • Closing Day! Bring your photo ID and funds. Bring your personal checkbook to make up any small difference to or from you.