Step 1
Loan Application & Forms
The loan application and accompanying forms allow the loan officer to gather essential information relating to your loan. Additionally, at the point of application, the borrower normally supplies the loan officer all the necessary documents and records required for loan submission.

Step 2
Loan Selection & Lock
After consulting with the client(s) and reviewing all loan documents, the loan officer will identify several loan options best suited to meet the clients short and long term goals. When the best loan is identified, the loan officer will lock the interest rate with the lender for 30 to 45 days depending on loan requirements.

Step 3
Order the Appraisal
An appraisal is a requirement for most loans and it represents a professional appraiser's evaluation and estimate of the value of your property. This is done to ensure the lender has enough value to justify the loan.

Step 4
Open Escrow

• Order Title Preliminary Report
• Lender Good Faith Estimate (GFE)- By law, the lender is required to send a Good Faith Estimate to you. This GFE may not reflect the same numbers as the GFE provided by Provident. Please note, the GFE provided to the client by Provident represents the truest estimate of the loan fees and will be used as the guideline for the loan.

Step 5
Process The Loan
Before a loan can be submitted for lender approval, the processor must assemble a completed loan file that includes required lender documentation. Items listed below reflect a sample list of loan documents required for processing:

Step 6
Submit Completed Loan File
After the loan has been processed, it is submitted to the lender for loan approval. Normally, lender approval occurs within 48 to 72 hours.

Step 7
Lender Loan Approval
Upon loan approval Provident is notified immediately by the lender. At this time, a Provident representative contacts the borrower and notifies them of loan approval and if there are any loan conditions.

Step 8
Loan Conditions
Although a loan may receive lender approval, it is common that various conditions be assigned prior to funding the loan. For example, common loan conditions may require the borrower to supply recent bank statements, pay off credit cards, or supply updated pay stubs.

Step 9
Ordering & Signing Documents
Once loan conditions are met, loan documents are ordered, reviewed by Provident, and forwarded to escrow. The escrow officer then normally contacts borrowers and an appointment is set to sign loan documents.

Step 10
Funding The Loan
Signed loan documents are returned to Provident for final review and then forwarded to the lender. The lender confirms all signatures and documents and normally funds the loan within 48 hours.

Step 11
Recording The Loan
Once the loan is funded via a wire transfer, it is escrow's responsibility to record the loan with the county assessor's office. This may occur the same day the loan is funded, but typically loans are recorded the day after funding.