What each waypoint means in the real world.
Waypoint 01
Letter of Intent
You've found an aircraft. The LOI locks in the price and your right to inspect before committing to purchase.
Waypoint 02
Financing Pre-Approval
FLYING Finance reviews your credit, income, and net worth. Soft pull only. Rate and term in two business days.
Waypoint 03
Appraisal
The lender establishes the aircraft's current market value. This sets the collateral basis for the loan.
Waypoint 04
Underwriting
Full review of logbooks, title, and your financials. Most deals close here or don't close at all.
Waypoint 05
Bank Approval
The lender issues a formal commitment letter. Rate, term, and conditions are locked. You're cleared to close.
Waypoint 06
Purchase Agreement
Buyer and seller sign. Funds go into escrow. The FAA title transfer begins.
Waypoints 07–09
Closing
Funds released. FAA title recorded. Insurance bound. Keys in hand. You're a pilot-owner.