Home Loans Unraveled

Before you start looking for a home, it’s a important to meet with your loan officer first to get pre-approved for a loan amount. At this stage, the lender will gather information from you about your income, assets, and your debts to determine how much house you will be able to afford. This will also include running a credit report, looking over your W-2 forms, pay stubs, Federal Tax Returns and even your recent bank statements. Take note that there are many different loan programs available to buyers, so make sure to get pre-qualified for the specific program(s) that will best suit your needs. Ready to get started? Contact one of my preferred lenders today & be sure to tell them I sent you!

 When you find the home or property that you are ready to purchase, your lender will help you complete the full mortgage loan application. The lender will talk you through the various fees and down payment options. Then the application is submitted to processing, where the documents are reviewed, and appraisals and title examination are ordered. Then the loan is sent to their underwriter. The underwriter reviews and approves the entire loan when it meets compliance.