Loan Process

6 questions

Will I have a point of contact at Loan Cabin?


Yes. We will introduce you to one of our licensed mortgage professionals. You can contact your loan officer anytime throughout the process. We provide phone, email, and chat support during much of the week:

•Monday-Friday: 9AM – 9PM EST

•Saturday-Sunday: 10AM – 6PM EST

What do I need to do to lock my rate?


After you get pre-approved, select your preferred rate and terms, with a subject property address you can lock in your rate.

How quickly can I close my loan?


Loan Cabin usually closes loans between 3-4 weeks from application. 

The exact timing depends on a few factors, including how quickly you can submit all required documents, as well as the timing of third-party services.

The most common situation that requires a longer time to close is a refinance where the borrower has a second mortgage that needs to be subordinated.

If your loan happens to have more complicated circumstances and will take longer to close, your loan officer will discuss this with you when it’s time to lock your rate, and you may agree to a longer lock period.

Do I need to have an escrow account?


An escrow account is not required for most borrowers. However, having an escrow account usually helps in getting the best rate and maintaining your peace of mind.

If you choose to have an escrow account:

•The annual amount of your property taxes and homeowners insurance will be divided by 12.

•Your monthly mortgage payment will be increased by this amount.

•Your mortgage provider will pay your taxes and insurance for you out of the escrow account.

•Your total payments are the same, and you may get a better rate.

Without an escrow account, you are responsible for paying your tax and insurance bills directly.

Can I transfer my current escrow account?


No. Any balance in your current escrow account at the time of new loan funding will be refunded to you by your current mortgage servicer. This typically happens within 3 weeks from time of closing.

Is my data Secure?


Absolutely, Loan Cabin does not disclose any non-public personal information about our customers or former customers to anyone except as required by law.

Once a mortgage is recorded the information becomes public record. Other companies may pull information from public records in order to solicit business from our customers. We do not sell or share any non-public personal information with marketers outside our company, and we do not sell or share any such information with other financial institutions through the use of joint marketing agreements. Therefore, any solicitations for additional products and/or services would not be from our company. We advise our customers to use caution when responding to these requests.