Home Buying 101

Financing Real-estate Agents and mortgage lenders recommend pre-qualifying for a loan before selecting a home to purchase. This process will help you: Determine the price range you can afford. Understand the types of loans you qualify for. Determine what your monthly payment will be. Estimate the down payment and closing costs. The Loan Process Your Realtor can help you select a mortgage lender. Once you have made your decision, these are the steps of the process: Application  - All pertinent documentation is obtained. Fees and down payments are discussed.You will be asked to provide certain documents to your lender in order that your loan can be processed in a timely manner. Loan Submission  - Once all the necessary documentation is in, your completed file is submitted to a lender for approval. Loan Submission  - Once all the necessary documentation is in, your completed file is submitted to a lender for approval. Loan Approval (Underwriting)  - Loan ...