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Buying Process
We will help guide you through the home buying process so that you are educated and comfortable moving forward. Here’s what you can expect when applying for a mortgage or refinancing your loan:
PRE-APPROVAL
Submit preliminary documents: W2’s, pay stubs & bank statements schedule free consult.
FIND A HOME
Share your “wish list” with your realtor.
MAKE OFFER
Offer accepted / sign binder. Schedule inspection & send inspection report to your real estate attorney.
SIGN CONTRACT
Make offer, review & sign your contract with your real estate attorney.
APPLICATION PROCESS
Gather remaining documents to submit with completed and executed loan forms & disclosures.
APPRAISAL
A licensed, independent appraiser determines the market value of your home.
Helpful Hints & Common Mistakes
Save & submit all future pay stubs
Save & submit all future bank statements (complete w/ all pages)
Keep copies of all documents you submit to processing
Continue to pay all of your debts & loans on time
Don’t change or quit your job
Don’t change banks
Don’t finance a car or co-sign a loan
Don’t make any large purchases
Don’t be late with payments
Don’t make large cash deposits
Don’t apply for new credit cards
PROCESSING
Receive your welcome package. Processor completes all veri cations for credit, employment & assets.
APPRAISAL REPORT
Receive & review. We will update you on outstanding conditions, pending loan approval within 3 days of receipt.
UNDERWRITING
Processor submits le to underwriting department for nal review & commitment letter. Commitment letter issued & sent to you and your attorney for review.
TITLE REPORT
Your attorney submits the title report to the bank attorney for review & clearance.
HOMEOWNER’S INSURANCE POLICY
Copy of appraisal & mortgage clause provided to you to secure homeowner’s policy.
CLEAR TO CLOSE
Submit all closing conditions noted on commitment letter for nal clearance.
SCHEDULE A CLOSING
You & your attorney are noti ed that your le is cleared to close. A closing date is scheduled by attorneys with bank attorney.
FINAL WALK-THROUGH
Borrowers do a nal walk-through of the property to approve condition of the house prior to signing closing documents.
CLOSING
All parties sign closing documents with bank attorney. Certi ed check instructions provided 24-hrs. prior.
LOAN FUNDED
Bank wire received. You take possession. Move in and enjoy your new home Congratulations. you are now a homeowner.
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