The best time to start your formal mortgage application is before you start looking at homes. Much of the information you provide will consist of your tax returns, W2’s, bank account information at the minimum
Buying A Home
Learning About The Process
Featured
What Is Your First Step For a Purchase?
There are two ways to buy a property. The first is with cash. The second is by getting a loan. If you need a mortgage, we can help you with that too.
What we offer
When to apply for a mortgage
Our experts help you find the home of your dreams
Buying a home is probably the largest investment you’ll ever make. This process can be complicated. However, like anything worth having, it never comeseasyif you do it by yourself. This is complex and time consuming. That’s where our Expert Agents come in to help. Finding a person to help you make a decision like this shouldn’t be left to just anybody.
Let us guide you Home.
A Pre-approval is standard
If you’re pre-approved, the lender provides a pre-approval letter granting conditional commitment to loan you a predetermined amount of money. This means it’s likely you’ll be able to get a mortgage for the loan amount reflected on your pre-approval letter if the information you provided during the pre-approval process does not materially change.
Timing is important
Pre-approvals are generally valid for up to 90 days, so you’ll want to wait until you’re serious before launching into a pre-approval. If your lender pulls a hard credit for pre-approvals, it’s possible for your lender to extend your pre-approval one time without a second hard credit pull.
Home Buying Snapshot
You make the decision to buy a new home!
Contact your local Expert Realtor to begin the home buying process. Together we’ll develop a checklist to serve as your map for buying a home. We can put you in contact with a mortgage loan person if you don’t already have that lined up (click here to fill out a mortgage application). A pre-approved letter from a mortgage company is needed before we make an offer. The pre-approval is not a final loan commitment. However, a pre-approval letter will demonstrate your ability to go through with the purchase. That’s what sellers want to see before they accept an offer.
You found a home … Make an offer!
The paperwork process can be daunting. However, your Expert Realtor can help you navigate through it all. With the help of your Expert Realtor, we’ll figure out:
- The amount you are willing to pay.
- Your approximate down payment and mortgage amount.
- Contingency (building inspections, loan commitment) and Closing dates.
Personal property can specifically be included or excluded. So, if you want that refrigerator or pool table, make sure it’s included in the contract.
Counteroffers are common. Don’t be surprised if they don’t take your first offer. Remain in close contact with your Expert Realtor during the negotiation process so that proposed changes can be reviewed and responded to quickly. Remember, time is of the essence.
Offer Accepted!
You have an accepted offer; pay attention to timing. It’s everything at this stage and your Expert Realtor will guide you through this process. They will help you though this procedure of down payment requirements, building inspection and contingency timelines.
Closing
Closing is a formal process where any and all parties sign all of the necessary closing paperwork needed to complete the transaction. You will close at a title company which is a third party that handles the transactions, so the property is transferred from the seller to you properly.
You receive the house keys, and the seller receives the payment! The title representative subtracts the funds to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed, and ultimately filed with the local property record office.
After the closing
After closing, your Expert Realtor is here to assist you with all the details as you move into your new home.