The Mortgage and Loan Process
Funding your home purchase
1. Financial pre-qualification or pre-approval
- Application & interview
- Buyer provides pertinent documentation, including verification of employment
- Credit report is requested
- Appraisal scheduled for current home owned, if any
2. Underwriting
- Loan package is submitted to underwriter for approval
3. Loan Approval
- Parties are notified of approval
- Loan documents are completed and sent to title
Why pre-qualify?
We recommend our buyers get pre-qualified before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means.
Things not to do after your pre-approval
- Do not make odd deposits -- for example, birthday money
- Do not make big credit purchases
- Do not apply for any other credit
US BANK
5/3 BANK
PNC BANK
