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What to Expect

The Loan Application Process

  1. Upon receipt of your application and authorization, we will request a credit report and review your information.
  2. You will receive a Loan Estimate, for your review. We will need to confirm your intent to proceed within 10 business days in order to continue processing the loan application.
  3. Upon receiving your intent to proceed, supporting documentation for income and assets will be needed.
  4. Your information will be submitted for underwriting; usually, a credit decision is made within two to three business days.
  5. If credit is approved, you will receive a commitment letter listing the conditions of the approval.
  6. We will order an appraisal and title work; the appraisal fee is due at this time.
  7. Please note: There may be costs incurred to cancel these orders. If your request is withdrawn after this point, you will be responsible for cancellation fees.
  8. After all conditional items are completed, your file will be submitted for final approval. This step usually takes three to four days for completion.
  9. A Closing Disclosure outlining final closing costs will be provided to you. There is a mandatory three business day period for your review before you can sign loan documents. If the Closing Disclosure is provided by mail, we’re required by law to add an additional three business day time period to allow for you to receive the document.
  10. Your loan documents will be sent to the closer/escrow officer.
  11. An escrow officer will contact you directly to set up an appointment for you to close this transaction.
Northwest Farm Credit Services
2001 S Flint Rd, Spokane, WA  99224
Toll Free:  (866) 552-9172
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