Our Process
Application & Pre-approval Letter
Applying for a mortgage can be a daunting task, but it’s important to understand the process before you begin. One of the first steps in the mortgage application process is to get a pre-approval letter. This letter shows sellers that you’re a serious and qualified buyer, and it can give you an advantage over other buyers who don’t have a pre-approval letter. In order to get pre-approved, you’ll need to fill out an application with your name, current income, and assets. We will also run a credit check to determine how much you can afford. Once you’ve been pre-approved, you’ll be one step closer to securing the home of your dreams.
Find Your Dream Home
The process of finding your perfect home is an exciting one, and it all starts with connecting with a real estate agent. Real estate professionals are experienced in finding homes that match their clients’ needs and wants, and they can help you find the perfect home for you and your family. Once you’ve found the right home, your real estate agent will help you put in an Offer to Purchase, which is a legal document outlining your offer price and any contingencies that must be met before the sale is finalized. The seller will then have the opportunity to accept, reject or counter your offer. If they accept your offer, the home goes “under contract.” Your real estate agent will then help you navigate the negotiation process and handle all of the paperwork involved in finalizing the sale. With their help, you’ll be able to focus on making your new house a home.
Inspection & Appraisal
It is critical to make sure that the house you are buying is in good shape. Even if the home you plan to purchase looks flawless to you, there’s no substitute for a trained professional conducting a home inspection of the property to make sure you understand the quality, safety and overall condition of your potential new home.
An inspector will review the electrical, plumbing, roof, overall condition of the home and more to ensure that there aren’t any problems. Agents can usually recommend a trustworthy licensed home inspector, and the inspection is generally scheduled within a week of the contract being signed. We recommend that you attend the inspection to get a better understanding of what needs to be done to maintain your new home in top condition.
Underwriting & Approval
The Underwriting process is a critical step in the mortgage process, as it is when all the collected information is verified for accuracy. This includes your income, employment and assets, as well as the property details. Once the Underwriter is satisfied that everything looks good, they will sign off on all documents and issue a final approval. Then the mortgage team can schedule your closing and review the Closing Disclosure (CD), which is a standard document that outlines the finalized terms for the loan, including a breakdown of all costs and fees. This process may seem daunting, but our experienced team will be there to guide you through every step of the way.
Closing & Moving in
Once your loan is fully approved, you’re ready to close your loan and get the keys to your new dream home. We’ll send you the closing package the day before your closing appointment. At closing, you’ll sign the remaining mortgage documents and pay your down payment and closing costs. Congratulations, your dream home is all yours! Now, it’s time to move in and get to know your new neighbors!