The Home Mortgage Process
Demystifying Home Mortgage
If you haven’t experienced it before, the mortgage process can feel overwhelming, but we will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist also known as a mortgage broker. If you don’t already have someone in mind, we partner with some of the best lenders in the industry, and we are happy to introduce you, so you’ll be taken care of.
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Get Pre-Approved
Before you start looking for a home to buy, it’s a good idea to talk with your Mortgage Broker to get pre-approved. In the comfort of your own home, you can usually fill out a mortgage application. 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, pay stubs, Federal Tax Returns, and recent bank statements. There are a variety of different mortgage programs, so make sure to get a pre-qualification for the specific programs that best suit your needs.
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Helping You Get The Best Mortgage
Start The Process
We will help you find the best local mortgage brokers to get you competitive rates and the programs that best fit your individual needs. Fill out this form and we will connect you without obligation to a qualified mortgage broker today!
Application & Processing
What happens when a Mortgage goes "live"
When you find the property you’re ready to buy, your lender will help you complete a full mortgage application, and talk you through the various fees and down payment options. This is different from the pre-approval as it is now time to seek approval on the home of your dreams. The application is submitted to processing, where the documents are reviewed and appraisals and title examination are ordered. Then the mortgage is sent to an underwriter, who reviews and approves the entire mortgage 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 mortgage is approved, don’t forget to set up homeowners insurance and utilities. Your documents will be sent to a lawyer, where you’ll sign for the new home and pay any remaining costs. Then the mortgage is recorded and you get the keys. Congratulations, happy homeowner!
