BUYER’S BLUEPRINT
Presented by
THE HOME-BUYING PROCESS
Pre-Approval
Home Search
Under Contract Processing / Underwriting Closing
Scan the QR code to view the full Homebuyer’s Guide.
DOS AND DON’TS
Do
• Get pre-approved early prior to starting your home search.
• Understand your monthly budget and funds needed for purchase.
• Organize funds early – liquidating stocks / investments and 401K loans.
• Keep credit utilization below 30 percent of the maximum credit card limit.
• Ask questions and keep the lines of communication open with your lender.
• Stay organized and maintain a paper trail of your asset documentation.
Don’t
• Make large credit purchases before buying.
• Transfer large amounts between different asset accounts.
• Open new lines of credit or accumulate additional debt.
• Make late credit payments with your monthly debt obligations.
• Go on vacation during the loan process without discussing with your lender.
• Change your employment status without checking with your lender.
GLOSSARY OF TERMS:
GATHER DOCUMENTS
□ Two most recent pay stubs
□ Last two years of W-2s or 1099s
□ Copy of Driver’s License
□ Last two months of complete bank statements
□ Last two months of any stock, mutual fund or IRA / 401K accounts
ж If self-employed, two years of complete tax returns
• Have your loan pre-underwritten.
• Work with a local lender with a strong reputation in the local marketplace.
• Build home search price off your budgeted monthly payment rather than your maximum qualification.
• Organize funds to close early.
• Work with a trusted REALTOR® with a proven track record in the local market.
Appraisal: An estimated value of the property. As part of the loan approval process, the lender will hire an appraiser to assess the property and determine whether the loan amount is appropriate to its value. The appraiser uses several factors to determine the property’s value, including location, condition and the sales price of recently sold comparable properties in the area.
Discount Point(s): A one-time fee a homebuyer pays directly to the lender (usually a bank) upfront at closing in exchange for a reduced interest rate.
Earnest Money: A deposit paid by a potential homebuyer to a REALTOR® upon bid acceptance that indicates their intention to purchase the house.
Escrow: A “forced” savings account, in which a portion of the monthly mortgage payment is set aside by the lender for payment of such expenses as property taxes or hazard insurance. This assures the lender that adequate funds will be available to pay these.
Jumbo Loan: A loan that exceeds the purchase limits by Fannie Mae and Freddie Mac. Also called a non-conforming loan.
Mortgage Insurance: Insurance for the lender in the event that the borrower defaults on the loan. Typically required when the loan has an LTV of 80% or greater.
Pre-Approval: A document from a lender stating that the lender is tentatively willing to lend you, up to a certain amount.
Scan the QR code to review more helpful glossary terms.
Our Heritage is Tailored for Your Success.
Sanctuary Home Mortgage’s 30-year legacy in Atlanta leverages personal relationships with the area’s top-performing REALTORS® and local appraisal experts to unlock an unmatched financing experience firmly grounded in community and deeply invested in your success.
glenda.snyder@sanctuaryhomemortgage.com
NMLS 659055
GA 69651
direct: 404.310.9927 fax: 484.685.7032
President GLENDA SNYDER
A proud Georgia native, Glenda Snyder has dedicated her career to helping individuals and families achieve their dreams of homeownership for over 25 years. As the President of Sanctuary Home Mortgage, she has had the privilege of serving over 1,200 families throughout her career.
Glenda’s career began in traditional retail banking before she transitioned into mortgage banking, bringing with her a wealth of experience and expertise. With years of service in her local community, she has become a trusted advisor to top builders, REALTORS® and buyers in the Metro Atlanta area, possessing a deep understanding of the diverse needs of both first-time homebuyers and experienced investors.
For Glenda, homeownership isn’t just about buying a house; it’s about creating a sanctuary, a place where memories are made and dreams are realized. She considers it a privilege to be a part of this important life event for each and every client she serves. Beyond the numbers and transactions, Glenda is dedicated to building lasting relationships with her clients, guiding them through every step of the homeownership journey with care and expertise.
Outside of work, Glenda enjoys weekend trips with her husband to the mountains or the beach and spending time with her two grandchildren.
Mortgage Bankers Association of Georgia Gold and Platinum Award | 400 North Association of REALTORS® Affiliate Member of the Year recipient | Leadership Forsyth alumnus