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Arizona Loan Status Update (LSU)

Buyer Resources/Financing

Loan Status Update (LSU)

Your loan’s progress report.

The LSU keeps everyone on the same page about your financing, so problems surface early, not days before closing.

Section 2e of the Purchase Contract

The Loan Status Update is the Arizona REALTORS® form your lender completes to report where your loan stands. You deliver it to the seller within 10 days after contract acceptance, and your lender provides updated LSUs to the brokers and seller on request throughout escrow.

What the LSU Covers

Page 1Your loan profile

  • Lender and loan officer, with Arizona license and NMLS numbers
  • Loan type and occupancy: conventional, FHA, VA, USDA; primary, second home or investment
  • Key reliances: selling a home, seller concessions or down payment assistance
  • Pre-qualified amount, maximum payment and rate, plus documents received
Page 2Progress checklist

  • Documentation: contract, application, Loan Estimate, appraisal ordered, title commitment, rate lock
  • Underwriting and approval: submitted, approved with PTD conditions, then approved without them
  • Closing: loan documents signed, funding conditions met, funds received by escrow

Milestones Your Lender Tracks

01ApplicationLoan Estimate sent and your intent to proceed received.
02Appraisal & titleAppraisal ordered and received; title commitment reviewed.
03Rate lockRate and points locked in writing, with the expiration date noted.
04UnderwritingFile submitted and approved with Prior to Document (PTD) conditions.
05Final approvalAll PTD conditions met, required 3 days before closing.
06Funding & recordingLoan funds to escrow; closing happens when the deed records.

Why It Matters

  • It defines your loan contingency. Your protection under Section 2b applies to the loan described in the LSU, so it should match what you’re actually pursuing.
  • Changes must be shared. Tell the seller right away about any change in lender, loan type or terms; some changes need the seller’s consent.
  • It strengthens your offer. A complete, prompt LSU shows the seller your financing is on track.

How I Help

Deadline tracking

I make sure your LSU is delivered within 10 days and updated as milestones are reached.

Lender communication

I stay in touch with your loan officer so issues are caught early.

Trusted lenders

Need one? I can recommend lenders who communicate well and close on time.

Sample Forms

Blank Arizona REALTORS® samples for reference. We’ll complete the current version together.

Loan Status Update (LSU) sample

Loan Status Update (LSU)Updated Feb 2017 · 2 pagesYour lender’s progress report during escrow.View sample (PDF) →

Unfamiliar term? Browse the Real Estate Glossary →

← PreviousSteps to Obtain the LoanNext →Loan Application Checklist

Need a trusted lender?

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General information only, not legal or lending advice. Your signed contract and the current LSU form control.