Process

Mortgage PROCESS 1 2 3 4 5 6

Find a Loan Officer: Your homebuying journey should not begin with shopping for a home. Your journey should start with finding the right loan officer. Mortgage loans are long term debt that create a long-term relationship with you and your loan officer. Feeling confident that your loan officer is knowledgeable and offers the right loan product, while providing excellent customer service, is key to the beginning of your homebuying journey. Get Pre-Approved: After choosing a mortgage loan officer, you must complete a pre-approval application. The loan officer will help determine various mortgage options for your specific financial situation. At this point, you will have an idea of monthly payments and the amount due at closing. The loan officer will issue a pre-approval letter that provides a seller and their real estate agent a sales price and loan amount specific to you. Find a Home: Once you find a home that meets all your needs within your price range, it is time to make an offer. Once your offer is accepted, you may decide to do a home inspection. The inspector will help determine the condition of the property and detail if any repairs are needed. Submitting your loan application: With a signed contract we are now able to lock in an interest rate through your closing date. At this point, you may need to supply updated financials to your loan officer. Once all financials are provided, the loan is submitted to underwriting. An underwriter verifies all financial information given to the loan officer and may ask for additional documents or explanations. Appraisal and Title: An appraisal is a professional unbiased opinion of the homes value. Lenders use appraisals to confirm your offer is in line with the fair market value of the property. Appraisals are used to keep buyers from overpaying for a home. A title company or real estate attorney will perform a title search on the property to make sure there are no outstanding liens tied to the home. Closing and Funding: The closing is a meeting where all parties (buyer, sellers, realtors, & title agent) involved in the transaction come together to sign the legal documents and loan documents. Buyers and Sellers may meet as a group or separately. At closing you will sign several loan documents and the lender will transfer the funds for the mortgage loan to the seller.