Funding
Loan Funding in the Tri-Cities
Loan funding is the final stage of the financing process. This is when the lender releases funds and the transaction moves to closing.
Understanding this step helps you know what to expect as ownership is finalized.
What Funding Means
Funding occurs after all loan conditions are satisfied and final documents are signed.
At this point:
- The lender authorizes the release of funds
- Escrow prepares for recording
- Final checks are completed
Funding is the last financial step before ownership transfers.
Final Review and Approval
Before funding, the lender performs a final review.
This may include:
- Confirmation that all conditions are cleared
- Verification of final figures
- Review of signed documents
- Confirmation of insurance and title requirements
Once approved, the loan is cleared to fund.
Timing of Funding and Recording
Funding and recording are closely connected.
In most Tri-Cities transactions:
- Funds are released first
- The transaction records shortly after
- Ownership transfers upon recording
Your escrow team coordinates these steps and confirms completion.
What Buyers Should Avoid at This Stage
Even at the final stage, changes can create delays.
Buyers should:
- Avoid new debt or purchases
- Maintain stable employment
- Follow escrow instructions closely
- Stay available for communication
Consistency ensures a smooth finish.
After Funding Is Complete
Once funding and recording are complete:
- The transaction closes
- Keys are released according to contract terms
- Monthly mortgage payments begin as scheduled
Funding marks the successful completion of the financing process.