The home loan procedure can seem complicated, but I will make every effort to keep you informed from pre-approval to closing. The first step is to speak with a mortgage expert. (or two). We partner with some of the greatest lenders in the business, and we’d be pleased to introduce you if you don’t already have someone in mind. This will ensure that you are taken care of.
01
Get pre-approved
It’s a good idea to meet with your loan officer and get pre-approved for a loan amount before you start looking for a home to buy. In order to estimate how much housing you might be able to afford, the lender will compile information about your income, assets, and debts. This includes recent bank statements, a credit report, W-2 documents, pay stubs, and federal tax returns. Get pre-qualification for the exact loan programs that best meet your needs since there are numerous options available.
02
The Loan Application
When you find the perfect home you want to buy, your lender will work with you to complete a thorough mortgage loan application and go over the different costs and possibilities for a down payment. The application is sent for processing, where the supporting documentation is examined and orders are placed for appraisals and title checks. The loan is next forwarded to an underwriter, who examines it and, if it complies, approves the full loan.
03
Closing
Don’t forget to purchase homeowners insurance as soon as your loan is authorized. Your papers will be delivered to the title company, where you sign for your new home and make any necessary payments. Following the loan’s recording, you receive the keys. Congrats, you are now a lucky homeowner!
