The pre-approval process is just the first step in the process to qualify for your loan when working with your real estate professional during the purchase of your new home. Loan pre-approval is often done weeks, sometimes months prior to placing an offer on a property.

Key Steps in The Purchase Process

Ratified contract

Once you and your real estate professional make an offer and both the seller and borrower mutually agree upon the terms, you will have a ratified contract.

Review loan strategy

With the ratified contract in hand, I will meet with you to review your loan strategy and make sure all required supporting documentation regarding your income, assets, and liabilities is updated.

Lock in your loan

Once all supporting documentation is accurate and your loan strategy is finalized I will lock in your loan.

Loan disclosures and appraisal

Once your loan is locked in I will send out your loan disclosures and order your appraisal.

Contingency Focus

Prior to closing you will be working with your real estate agent to complete any contingencies you may have established as part of your ratified contract. These contingencies often include actions such as a property, termite, and radon inspections. You will also be coordinating packing, moving, and getting excited about your new home purchase.

Underwriting

Your loan will now move to the underwriting phase, where my team of in-house underwriters will review your loan package.

Close and settlement

Once your loan is fully underwritten it will be considered cleared for close, where our in-house closing team will review your loan package. Settlement; my closing team and I work directly with your title company to prepare your settlement documents, which will be referred to as a closing statement or HUD-1.