The Road to Home Ownership
March 10, 2020
1. Meet with a Lender and Get Pre-Qualified
Meet with a licensed Mortgage Banker to determine your home buying options. You may pre-qualify for a loan after a review of your assets, financial situation, and income.
2. Find Your Real Estate Agent and Start House Hunting
Find a trusted agent if you're not already working with one. Work together to find a property that meets your needs and price range.
3. You've Found Your House!
Make the offer! Together with your agent, we’ll help you prepare your pre-qualification letter to include with the offer.
4. Home Loan Application
Offer accepted! Contact your Mortgage Banker to start the review of product offerings and details like payment options, required documents, expectations, and responsibilities.
5. Appraisal and Inspections
Your Mortgage Banker will order a home appraisal; however, because this is one of the biggest purchases you’ll make, consult with your agent to conduct your own home inspection, radon inspections and pest inspection to learn everything you can about the property.
6. Loan Review and Approval
You're so close to getting the keys to your new home! Your lender will review your credit and property information to verify your qualification for the requested loan. The loan approval process may require you to provide some additional items before closing. Be sure to contact your Mortgage Banker with any questions along the way.
CONGRATULATIONS! This is the final step! You’ll sign your final closing documents, your lender will send the funds to the title company . . . then you’ll get the keys to your new home!
This content is for informational purposes only. Readers should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific advice from their own counsel.