What Are Reserves? Reserves are liquid or near liquid assets that are available to a borrower after the mortgage closes. On every loan transaction, reserves are required to be verified as part of the approval process. Acceptable sources or reserves […]
Loan Package Disclosures When moving forward with a mortgage home loan a loan package will be sent to formally start the process. The loan disclosures need to be reviewed, signed, and returned as soon as possible. Without these signed disclosures […]
Loan Process Overview The following is an overview of the home loan process when purchasing a home. The process begins once the loan details (such as program, rate, costs, etc.) have been finalized and a contract has been executed […]
