Financial Documents May Be Required

The Home Loan Process

Purchasing a home is one of the largest investments you will make in a lifetime.  It is important to understand the basic steps to accomplishing the goal of homeownership.   



STEP 1 Pre-qualification
Contact mortgage loan originator to submit a pre-qualification request to determine how much you can afford before house hunting. Most real estate agents will require a pre-qual letter to assist in finding a home within your price range.


STEP 2 Find Your New Home
At this time, you will meet with your real estate agent and begin the journey of finding a home that suits your needs. 


STEP 3 Application
Meet with your mortgage loan originator to submit a mortgage loan application. This is typically done when you have a ratified contract on the home. A Ratified Contract is a sales contract that has been signed by all parties involved.


STEP 4 Processing
Your mortgage loan originator will submit your file to processing where the collecting of initial financial documentation will be requested to complete your file. An appraisal will be ordered during this step. 


STEP 5 Underwriting

The underwriters will verify the financial documentation submitted in your file along with the property appraisal to make sure you meet program guidelines and requirements. Additional documentation may be requested at this time and is normal in the loan process.


STEP 6 Road to Settlement
If the loan has been approved you will then go to settlement where you will sign final loan documentation and receive the keys to your new home! 

Photo ID will be required at the closing table.