Steps to Mortgage Success!

Five Steps to Mortgage Success!

The process of buying a house doesn't have to be stressful. Whether you're a first-time buyer or you've purchased a home before, you can relax. I'll do my best to make your home buying process simple and easy to understand.

I'll work with you every step of the way to make sure you get a mortgage that matches your financial situation, will fit your budget, and fulfills goals you have for you and your family. When you're ready to begin the home buying process, I'll walk you through the steps one by one.

STEP 1: GETTING TO KNOW YOU

I want to know all about your plans, for the short term, and the long term.  What are your concerns, what are your questions?  Don't worry, you can ask me anything.  Nothing is too small or too silly. The lending process can seem mysterious and daunting.  I'm here to answer all your questions and lead you every step of the way to your new home.

STEP 2: PRE-QUALIFYING *

Getting pre-qualified for your home is a really good idea. It’s a simple, initial step you can take before starting the formal loan process. It’s not required, but it will save you a lot of time and hassle once you’re ready to buy and start looking for a home.  

Pre-qualification gives you an estimate of how big of a loan, and what interest rate, you might qualify for, as well as your potential monthly payments.

To get started we'll continue our "get to know you" conversation with a few more questions like:

  • What do you think your credit score is?
  • What is your income?
  • How much cash or other assets do you have?
  • How much debt do you have?

I'll review your information, and possibly check your credit score. It’s pretty simple and completing everything may take as little as 10-15 minutes. I can likely have an answer for you within a few hours or on the next day, depending on when you apply. There are no risks, or costs, and it’s easy too!  You’ll receive a letter stating the loan amount you’ve been pre-qualified for to have handy when you start looking for homes. There really aren’t any reasons you should not take the step to get pre-qualified:

  • It will not affect your credit score
  • No additional documents are required besides the application information
  • There are no fees or other costs for pre-qualification

Step 3: Finding Your Home

Now the big adventure begins! With your pre-qualification in hand, you're ready to actively start the search for your new home.  It's time to pick a Realtor and start looking at possible homes and neighborhoods.  It may happen in a day, a week, or a month, but you will find just the perfect home and then the race will be on to make it yours!

Step 4: Offer and Acceptance

Once you've found just the right place, you and I will  work with your Realtor to prepare an offer that's attractive to the seller and fits within your financial plans and requirements.  With a little luck your offer will be accepted and you'll be "In Escrow".   After a few weeks of inspections, appraisals, and paperwork you'll be ready for "Closing Day".  

Step 5: Closing DAy!

Your big day is almost here!  As we get close, I'll be working with you to finish up final details.  We'll work out exactly how much money you'll need to bring to closing, and finish up any last minute details. Usually we'll meet your Realtor at the title company on signing day.   You'll need to bring a government ID, and if you haven't wired your closing funds to the title company, you'll need to bring a certified check.  The escrow officer will help you work through a pretty big stack of documents, and I'm usually there just to make sure everything goes okay.  

After the paperwork is signed, your job is done except for just a little more waiting.   The title company and my team and PrimeLending will finish things up over the next few hours, and usually by the end of the day, your Realtor will have the "all clear" to deliver the keys to your new home.  Congratulations, you've made it!