Demystifying Home Loans

For many, the home loan process can be one of the most overwhelming steps to buying a home. This is why we partner with the best in the industry. Our lender is in the top 1% and continues to close hundreds of loans every year. From pre-approval to closing, we value our clients' needs and provide the resources and tools necessary to help you every step of the way.

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Get Pre-Approval

Before you start looking for a home to buy, it’s a good idea to meet with your Loan Officer to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assets and debts of the borrower (you) to determine how much house you may be able to afford. This 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 specific programs that best suit your needs.

 

Application & Processing

WHAT HAPPENS WHEN A LOAN GOES "LIVE"

When you find property you’re ready to buy, your 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 documents 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 closing attorney's, 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!