It doesn’t matter if this is your first home purchase or your fifth. It doesn't matter if you have a less-than-perfect credit history or a perfect credit score. We're here to help educate you around what to expect from the home loan process so that the process can feel easy, stress-free, and even fun!
1: GET ORGANIZED
Gather and organize all documentation about your current income, bank accounts, and any long-term debt like credit cards, auto loans, and child support.
In addition to the application and disclosures paperwork we'll provide you, you may also need to send additional income and asset documentation that will be used to verify your ability to repay the loan.
It can help to keep the three major pieces to a successfully approved home loan in mind:
- Your credit score
- Your capacity to pay back the loan
- Your available collateral
Did you know we can actually help you qualify for your home loan over the phone in as little as thirty minutes?
Depending on the size of the down payment you have available and your credit history, some loans can be very quickly and easily approved.
If you'd like to discuss a specific property you have in mind, and you've not yet been prequalified, don't let that stop you! Give us a call to discuss the numbers. We're here to help!
Your mortgage loan application is now complete and your financial information will be processed.
We will order an appraisal of the home you're interested in buying and a copy of your credit report.
We will also verify your employment status and any applicable assets.
Specific loan terms and information and an estimate of the closing costs will be provided to you as well.
4: GET APPROVAL
At this stage, your home loan application is evaluated, including all supporting documentation, and the loan is either denied or approved.
Depending on the circumstances, your home loan approval time can be just a matter of hours or only a few days.
This is a very exciting time for homebuyers! We'll keep you updated as the loan process continues.
5: CLOSE THE LOAN
At this point in the process, your mortgage loan has been approved and it's time to attend the loan closing!
We'll walk you through reviewing and signing all loan documents - you are now a homeowner!