The Financing Process
There are a few simple things that can help you understand financial steps when you are buying a new home, but you should know I may come off as being bossy, but it is to your benefit. I have a short list of top notch lenders that I will recommend to you. The reason I give you such a short list is because, believe it or not, I’m trying to protect you from heartbreaks of choosing the wrong lender. So here it goes: PRE APPROVAL and PREQUALIFICATION THE LENDERS ROLE
- Calculate your personal budget
- Apply for a mortgage/paperwork/loan application (This will be my first order I will give you to do before you meet me)
- Lender begins processing application
- Lending provides booklet of estimated closing and related costs
- Lending institution requests an appraisal of home, a credit report and verification of employment and assets (It is imperative to follow the strict dates with paperwork here because time is of the essence and I can not stress this enough.)
- Estimate of your loan costs in form of initial truth in lending disclosure statement
- Lender evaluates the application and approves the loan
This is where I come in,
- I will show you as many listings as you like
- You will find your dream home
- You will make an offer (It’s not over until the fat lady sings, and I’m not ready to sing yet!)
- Lender will disburse funds to the closing agent
- Sign closing documents and loan is funded (This is where the fat lady sings)
- Appropriate documents recorded at county recorders office
- FINALLY the home is sold and it is yours!
- Celebration beings! If you think this is the end of everything, our relationship is just beginning.
