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Settlement Process

Making an Offer

Be prepared to put down a good faith deposit when you make an offer and be sure to make your offer contingent upon a satisfactory home inspection. Also, when agreeing upon a settlement date, allow enough time for the remainder of your application to be processed (minimum of 30 days is required). Once all parties have agreed upon the offer, you will have a fully executed Agreement of Sale (AOS). Be sure to send a copy of your AOS and home inspection directly to the PHOS program manager.

Satisfy Remaining Documentation Requirements

Send all remaining documentation requirements, as listed on your introductory letter and as requested by your lender, to the appropriate parties. Remember, all required documentation must be received by PHOS no later than five (5)  business days prior to closing.

Attend Pre-Settlement Consultation Session

Once all documentation is received, PHOS will schedule a counseling session where you will have the opportunity to review your loan documentation and ask any additional questions. If applicable, additional fees needed for settlement will also be discussed.


All forgivable loan and CCRP settlements need to take place in the PHOS offices.  The program manager will need to be contacted for scheduling day and time.