Demystifying Home Loans
If you haven’t experienced it before, the home loan process can feel overwhelming, but our agents will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind we partner with some of the best lenders in the industry and we’d be happy to introduce you, so you’ll be taken care of.
Get Pre-Approved
Before you start looking for a home to buy, it’s important to meet with a Loan Officer to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assests and debts of the borrower (you) to determine how much you may be able to afford. His includes a credit report, W-2 forms, pay stubs, Federal Tax Returns and recent bank statements. There are a variety of different loan programs, so make sure to get pre-approved for the loan program that best suit your needs.
We Help You Get The Best Loan
START THE PROCESS
We can help you find the best local loan officer to get you a competitive rate and the program that best fits your individual needs. Fill out this form and we’ll connect you with a lender today!
Application & Processing
WHAT HAPPENS WHEN A LOAN GOES “LIVE”
When you find property you’re ready to buy, you lender will help you complete a full mortgage loan application, and talk you through the various fees and down payment options. The application is submitted to processing, where the document are reviewed and appraisals and title examination are ordered. Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance.
CLOSING
SIGNING AND FINALIZING THE DEAL
Don’t be surprised if you’re asked for additional documentation or clarification throughout the process. Once your loan is approved, don’t forget to set up homeowners insurance. Your documents will be sent to the title company, where you’ll sign for the new home and pay any remaining costs. Then the loan is recorded and you get the keys. Congratulations, happy homeowner!