Mortgage Process

The mortgage process typically takes from four to six weeks, and includes six major milestones (eight milestones with Construction-to-Permanent Financing). Throughout the process you can rest assured knowing our team of professionals is working with you and all involved parties to ensure a seamless and timely process.

Step 1: Apply For Your Loan.
In just minutes, you can complete your loan application over the phone with a Merrill Lynch Home Loans™ Sales Representative. Call 1.888.421.0879 (Monday – Friday).

Step 2: Submit the Application for Review.
A Merrill Lynch Home Sales Representative will review your application and request a credit report for all applicants. Your information will then be submitted to our underwriting department for an initial lending decision.

Step 3: Receive the Welcome Package.
Once you are approved and registered, your title report, appraisal, and flood certification will be ordered and you will receive a Welcome Package introducing you to your Loan Processor, who will be your guide through the remainder of the loan process. You will also receive other important documents to review.

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Step 4: Reports are Reviewed and Conditions are Met.
Your Loan Processor will review the title report, appraisal, and flood certification and verify that all conditions of the initial lending decision have been met prior to obtaining the final lending decision.

Step 5: The Final Lending Decision is Made and Closing is Scheduled.
Your Loan Processor will notify you of the final lending decision and will schedule a date and time for your loan closing.

Step 6: The Loan is Closed and Funded.
Attend the loan closing where you will review and sign the loan documents.

Step 7(Construction Loans Only): Build Your Home.
Merrill Lynch Home Loans makes disbursements based on inspection of work completed.

Step 8 (Construction Loans Only): The Modification Process Takes Place.
Upon completion of your home, the final loan proceeds are disbursed and the loan is converted to a permanent mortgage.