Mortgage Process
STEP 1: Prequalification:* This starts the application process, and gives you an idea about how much home you can afford before you start looking.
STEP 2: Choosing a loan. Different Banks and Brokers offer you different terms and rates. Speak to both an independent mortgage broker, and someone from a trusted bank to find you the best mortgage products that will match your needs. (Ask me who I would recommend!)
STEP 3: Finding a home: Before you start house hunting, make a list of what you do and don’t want, and where you want to live. This will save you and your real estate agent a lot of time.
STEP 4: Home appraisal and inspection: These make sure your offer matches the home’s fair market value, tell you the condition of the home, and let you know if any repairs are required.
STEP 5: Getting insurance: All mortgages require the insurance covering the home and property is in place before the loan closes.
STEP 6: Loan processing and underwriting: Once your application is complete, this is when all your documents are double-checked and examined to make sure nothing is missing.
STEP 7: Closing and funding: This is when you sign the paperwork, provide your down payment, transfer funds and get the keys to your new home!
Ask me which Mortgage Agent and Independent Broker I would recommend!
Stephanie@therealtydeal.com