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Process
Step 1:
Pre-Approval
Pre-approval can take anywhere from fifteen minutes to a week, depending on how complicated your finances are. Being pre-approved helps you and your realtor confidently search for a home that you can afford. Once pre-approved, we can show you what price range and monthly payment fit your needs.
HERE'S WHAT I'LL NEED:
Credit Check
Running credit while house hunting will not ruin your score. We only have to pull it once and the report is valid for four months.
Documents
Two paystubs, most recent two W2 forms, most recent two tax returns.
Down Payment
Amount
Notes: You can get a gift on most any loan program. Most 401k provider allow for loans with low/no interest for home purchases.
Step 2:
Contract
Once you're under contract, we work to gather more information and work toward a successful close. Here is an outline of what to expect next.
Lock Rate, Sign, Review Numbers
We will advise of current rates and discuss locking in. Preliminary figures are provided for your review. Compliance disclosures will be sent to you to sign. We combine those with your financials and send to underwriting.
Due Diligence
We'll order the appraisal, which typically takes under two weeks to receive. We'll assist you in securing homeowners insurance through an agent of your choice. We'll work with the selected closing attorney to perform a title search.
Official Approval
Underwriting will officially approve you and we'll advise of any items needed from you before closing.
Step 3:
Closing
Closing your loan on time and with ease is what we do. Here is an outline of what to expect next. We are your guides every step of the way!
Closing Disclosure
We are required to disclose updated preliminary figures to you three business days before closing, which you will need to e-sign to stay on track for closing on time.
Final Figures
During the week before closing, we will work with the title company to fine-tune figures. A cashier's check or wire transfer is almost always required.
Closing Day
Set a time and place for closing with your realtor. Allot about an hour and prep your wrists for signing about 60 pages. Receive your keys, and the house is yours!
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