When buying a house, at what point is the mortgage loan considered "funded" ?
Answers:
I'd consider it funded when the buyer and wholesaler own signed adjectives their documents, including the financing and the action, and the money is geared up to adapt hand.
When the title company receive comfirmation of the rope verbs.
When the mortgage company have released the funds to the escrow company for distribution.
The mortgage is funded when the clearing is made from the lender to the seller/builder through a third body (usually a title company).
When the lender wires the money to escrow.
Once everyone have signed the documents during closing and they acquire an okay from the lender to fund the transaction...that is to say when the loan is funded and the checks are disbursed.