Meet with your Lender
A pre-approval shows you’ve spoken to us, provided initial documentation, set your budget and considered the next steps. This can give you an advantage over other home shoppers in a competitive market.
Advantages of buying over renting:
- Build equity and wealth
- Pride of ownership
- Security and stability
- Tax benefits (consult your tax advisor)
- It’s YOURS! Pets, neon yellow walls, smart devices, YOUR rules!
Find a Home
Meet with your agent to determine your wants and needs. Go in search of your perfect home 3 to 6 months before you intend to buy.
Your agent can help you be realistic about “perfect”:
- Cosmetic fixes vs. structural issues
- Quality of the schools
- Proximity to major interstates and public transportation
- Neighborhood crime rates
- Property taxes
Make an Offer
Once you’ve found your dream home, work with your agent to negotiate a price and schedule a home inspection.
Emphasis on “work with your agent”:
- Your agent will know how much other homes are selling for in the neighborhood and will negotiate on your behalf for the fairest price.
- The inspection will confirm there aren’t any hidden problems with the foundation, plumbing, heating, cooling and electrical systems.
- If you want anything that’s not nailed down to be included in the sale, especially the appliances, it must be stated in the contract.
Apply for a Mortgage
Your application will provide us with any remaining financial information we’ll need and lock your interest rate until the closing date.
- Two most recent and complete tax returns
- Two most recent W-2s
- Two most recent pay stubs
- Two most recent and complete bank statements
- A copy of your photo ID
- Self-employed borrowers may need to provide additional documentation
Underwriting & Appraisal
We’ll verify your application information, assess your credit and collateral, and order an appraisal to ensure you’re not overpaying.
The underwriting process:
- An underwriter will complete an initial review within 48 hours.
- If we require any additional information, also known as conditions, we will work with you to clear conditions within 2 days.
- Your loan will return to an underwriter for final review and a clear to close (CTC).
- The loan processor will inform all parties of the CTC and verify the closing date and time.
Time to celebrate! After all of the paperwork is signed, you’ll receive the keys to your new home!
- Plan to review the final documents to confirm the rate and loan amount.
- Bring a cashier’s check to cover the closing costs and down payment.
- Bring your photo ID and possibly a Social Security card to confirm your identity.