The Mortgage and Loan Process

Funding Your Home Purchase

1. Financial pre-qualification or pre-approval

This must be completed before we go look at homes!

Application and interview

Buyer provides pertinent documentation, including verification of employment

Credit report is requested

Appraisal/Evaluation of current home owned, if any

2. Underwriting

Loan package is submitted to underwriter for approval once a contract is submitted

3. Loan approval

Parties are notified of approval

Loan documents are completed and sent to title company

4. Title company

Title exam, insurance and survey conducted

5. Funding

Lender reviews the loan package

Funds are transferred by wire to settlement company

Why pre-qualify?

We recommend our buyers get pre-qualified before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means.  You will also need a written lender commitment in order to ratify a Sales Contract.