STEP 1 - PRE-QUALIFICATION
It is very important to take the time to talk with a home loan lender prior to or during the search for your home with your Real Estate Professional. This will give you the opportunity to determine your
maximum purchasing power and monthly mortgage payment amount. Your Real Estate Professional will also benefit from the knowledge that you are a qualified buyer, the approximate price range for viewing property, and with a letter of pre-qualification your offer to buy is presented in the most positive manner. STEP 2 - HOME SELECTION
Working with a Real Estate Professional can help you find that perfect home within your buying power. Most Real Estate Professional's are associated with a multiple listing service and have access to all available homes for sale. They have extensive training in negotiations and contract preparation and have that 'local' knowledge necessary to advise you on value, services, inspections etc. that will provide you with invaluable peace of
mind in selecting your new home. STEP 3 - FORMAL LOAN APPLICATION
The loan officer will assist you in completing the loan application and obtain the required supporting information necessary to process your request. It is somewhat common to begin the credit approval process prior to finalizing a
home purchase agreement. This will speed up the home loan process and with formal credit approval you become a very powerful buyer and/or you can relax while the property is documented knowing you are fully approved. STEP 4 - CREDIT HISTORY
We will document your credit history by
ordering a credit report. The credit reporting agency will check your credit history, current balances and payment amounts and provide a detailed payment history. Typically, a letter of explanation regarding minor late payments will be required. STEP 5 - INCOME/EMPLOYMENT HISTORY
We will document your employment and income for a two year period of time. Written and/or verbal verifications may be required. Two years W-2's and a current pay stub are required supporting documentation. If you are self employed or earn other income we will need two years federal tax returns and/or a current financial statement. STEP 6 - FUNDS VERIFICATION
We will document your funds available for down payment and closing costs. This will usually include your checking, savings, investment and retirement accounts. Two months complete bank statements or quarterly investment statements are required supporting documentation. STEP 7 - APPRAISAL
An appraisal will be ordered on your property to be completed by an independent fee appraiser. This will document the condition and market value of the home. Typically, the appraiser will request any additional inspections i.e., pest, roof, septic inspections. STEP 8 - TITLE INSURANCE
Title Insurance verifies that the property has no liens, defects or encumbrances on the property. STEP 9 - FORMAL LOAN APPROVAL
After we receive the above information we review and package
all of the documentation and send the file to our underwriting department. An underwriter will review the file and approve, decline or hold the file for further information. Our goal is to have all the necessary information in the file so you are not bothered by having to obtain additional information at this late date. STEP 10 - CLOSING/ESCROW
After your loan is approved, the loan documents are prepared and delivered to Escrow. Escrow is the independent third party who collects the moneys, pays off any liens and transfers title from the seller to the buyer. After the documents are signed by the
buyer and seller, they are returned to the Lender for final review. This review is typically one-two days after you sign the documents. Our funding department authorizes the Escrow agent to record the loan documents at the county, which is the official day that ownership transfers. | 
