DUE TO UNPRECEDENTED DEMAND GENERATED FOR MORTGAGES BY HISTORICALLY LOW INTEREST RATES, AHC LENDNG IS TEMPORARILY UNABLE TO MEET IT'S 15 DAY CLOSING PROCESS AND UNABLE TO MEET IT'S $1,000 CLOSING GUARANTY. OUR CURRENT PROCESSING TIME IS ESTIMATED TO BE 30 DAYS FROM THE DATE COMPLETE DOCUMENTATION IS RECEIVED. WE APOLOGIES FOR YOUR INCONVENIENCE.

CLOSE IN 15 DAYS

AHC Lending's streamlined loan origination system and processes allows you to enjoy quick, no hassle, 15 day close on purchase transactions and 19 day close on a refinance transaction.

Here is what you should expect while your loan application is in process.

DAY 1

• You submit your loan application either online or by phone or in person. It takes about 20 minutes to complete.

• Your Loan Consultant contacts you to review your loan application the same business day if submitted prior to 3:00pm CT.
  

• Your Loan Consultant locks your Interest Rate. You receive Lock Confirmation by email confirming the loan program, loan amount, rate, points or rebate and guaranteed lender fee within one day. You confirm your Rate Lock by returning signed and dated Rate Lock Agreement to our office via fax
  

DAY 2

•    Your Loan Application is assigned to a Loan Processor

• Your Loan Processor transmit your electronic loan application which includes Federal, State and County disclosures.

• Your Loan Processor provides you a list of required supporting documentation such as copies of pay check stubs, bank statements, etc.

• Appraisal Report is ordered from one of our preferred appraisers in your area who has a committed turn time of seven days or less.

• Title Committment is ordered from the title insurance company.

DAY 3

•  We receive your signed loan application back with required supporting documentation such as paycheck stubs, bank statements etc.

  DAYS 4 - 6

• We address any issues in your loan application or your supporting documentation or credit report. We underwrite your file using our Automated Underwriting System and approve your loan subject to review of your documents by the Underwriter.
  

DAYS 7 - 9

• We receive and sign-off on your Credit Report, Income and Asset documentation, Appraisal and Title Committment reports

• We address any issues with your loan file as determined by the Underwriter

• Based on your loan documentation, we may issue a Condtional Loan Approval subject to Quality Control review and any additional documentation required by the Underwriter

DAY 10

•  We request and you submit any additional information, explanation or documentation required by the Underwriter. 

 DAYS 11-13

• Your loan is submitted for final review and quality control. Submitted information and additional documentation by you is reviewed and cleared by the Underwriter.
  

DAY 14

• Closing Instructions and documents are transmitted to the Settlement Agent.

DAY 15

• Your loan documents are signed and Notarized.
  

DAY 16 - 19

• Your loan funds after the expiration of your right of recession on the 4th business day after your loan documents are signed. 
  

ISSUES THAT MAY EFFECT YOUR CLOSING DATE

City, County, State, Federal Laws and restrictions may extend your closing date. In certain States and Counties, recording, appraisal and title company issues outside of our control may also extend your closing date by upto 7 business days. Cash-out transactions in Texas will be subject to a 12-day cool off period and advance notification of settlement statement requirement as prescribed by the Texas Constitution.

Bank Owned Properties, Foreclosed Properties, and Short Sale transactions may require additional processing times due to its unique nature.

Interest Rate is not locked within 5 calendar days of your application date.

Requested documentation not received within One Calender day.

Loan product changes, loan term changes may delay processing and completion of your loan closing by additional 8 days due to Federal Regulations. Please carefully consider effects of such change on your timeline.

Third party independent verification of;  Employment history, Borrower(s) Identity, OFAC Check, SSN Verifications, Asset Verification, Deposit Verification, Income Verification, Rental and Mortgage History Verification and Payoff Requests.

Appraisal Report review and verification and authentication of appraisal data.

Certification from Home Owners Association and / or Condominium Association.

Proof of Insurance coverage on subject property from your Insurance Agency or Insurance Agency of Condo Association/Management company.

Closing Date means the day your documents are ready for your signature in front of the Notary Public.

Quoted days are business days excluding Holidays and weekends. Processing of your loan may be delayed during Holiday season between Thanks Giving Day and New Years Day.