• Initial phone conversation
• Submission of applicant's financial information and property information
• Preliminary analysis by FTS (at no cost or obligation)
• Decision by lender regarding taking a formal application
• Formal application taken only after sufficient due diligence avoids nearly all rejections by lender
• Deposits required at application:
  1% Rate-Lock or Spread-Lock Fee (Refunded at closing or if declined) This locks the rate for 60 days or spread for 90 days allowing time for closing while protecting the rate quoted.
  1% Application Fee (Refunded only if application is denied)*
• Formal loan approval typically within 20-45 days
• Closing within 60 days of application
• Appraisals, Timber Cruises, Title Work etc. completed prior to closing at applicant's expense

* If the application is declined, a service fee on one-tenth of 1% is retained by FTS for the application fee.