Loan Process

1. CONTACTING US

Provident Capital Corporation has highly skilled loan officers and will provide you with a free loan analysis.  By answering just a few questions, we will be able to recommend loan programs tailored to fit your needs.

2. APPLYING FOR A LOAN

The application process is free, easy and fast. You can apply for a mortgage instantly by phone or using our online application. The process takes about ten minutes.  Whichever way you choose to apply, we will help analyze your particular strengths and weaknesses so you will know the maximum dollar amount for which you are qualified.

3. UNDERWRITING YOUR LOAN

Provident Capital Corporation uses the most advanced automated loan processing and underwriting software available. This allows us to obtain a preliminary approval in a just a few hours not days, like other lenders. All FNMA and FHLMC lenders accept these approvals.

4. VERIFYING YOUR APPLICATION

Within 3 business days, you will receive complete documentation relating to your loan. This package will include a Good Faith Estimate, a Truth-in-Lending Disclosure Statement and a list of documentation we will need to facilitate processing your loan.

5. PROCESSING YOUR LOAN

Once you and your loan officer have decided on a loan program and lender that best suits your needs, a home appraisal will be scheduled. The appraisal will be sent to your loan officer who will then forward it and other documentation you have supplied to the lender. Most lenders will sign off all conditions in 48 to 72 hours.

6. PREPARING FOR LOAN DOCUMENTS

When the underwriting process is complete and the lender signs off all conditions in the preliminary approval, we are able to order your loan documents.  This processes can take as little as 1 hour to as long as 48 hours depending on the lender.  The finished loan documents are then sent by FED-EX over-night, Email, or are printed in our office and hand carried to the title company.

7. CLOSING AND FUNDING YOUR LOAN

Once the documents have been sent to the title company, they will produce a preliminary closing statement. This will outline all of your loan costs as well as any payoffs that are required to close the loan. You will sign your documents with the closing agent at their office. The documents will be forwarded to the lender for final approval.  Funds will be wired to the title company and dispersed by your closing agent and the title will be vested with the county to complete the process.

416 SE 19th Street, Ft Lauderdale, FL 33316
Telephone: 954.467.3430* Facsimile: 954.467.3705
Email: contact@providentcapital.biz


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