Our Process to Buying a Home
Whether you are a first-time home buyer or you have purchased a home in the past, understanding today’s market is critical in determining your overall experience. Time-lines have changed and it is important that you understand your role in the home loan process. We are a team and need to work together to achieve your dream of homeownership.
- Initial Loan Interview
- Items Needed List
- SNAP* Buyer Approval or Pre-Approval
- Find Your Dream Home
- Consult with your lender to confirm payment and approval
- Negotiate an offer with the seller
- Finalize purchase contract and the close of escrow date
- Choose loan program and interest rate
- Loan Process
- Sign e-consent
- Receive loan estimate and disclosures to be signed
- Provide credit card for appraisal deposit
- Appraisal is ordered
- File submitted to underwriting
- Receive conditional approval and remaining conditions needed
- Provide final conditions requested within 24 hours
- Receive final underwriting approval and clear quality control
- Lender will issue the closing disclosure
- Meet with Escrow and Sign Loan Documents three days after closing disclosure is signed
Obtain funds for closing: Lender to provide detailed instructions.
- Lender will review funding package and clear any remaining conditions.
- Loan funds and records
- Get keys and celebrate as new homeowners!
*A Snap Buyer Approval is based on a preliminary review of your loan application, credit report, income, assets, and automated underwriting decision. It is not a commitment to lend. We can offer a loan commitment upon verification of all applicable information, satisfaction of underwriting requirements, an acceptable property appraisal and title report.
*A Pre-Approval is an underwriting commitment that is subject to applicable conditions, an acceptable appraisal and a title report.