First-Time Homebuyer
Step 1: Getting Pre-Qualified
This will give you an idea of what loan amount
and purchase price you can afford.
Step 2: Determine which mortgage loan best suits your needs
There are many loan options available from
first-time buyer programs to traditional conventional, jumbo, and FHA loans.
Step 3: Contact a real estate agent and start shopping
Once you've been pre-approved and have an idea of what price range you
qualify for, you can work with a Realtor to view homes for sale in the areas you'd like to live.
Step 4: Review your loan application and update your loan
Depending on how much time has passed since we issued
your pre-approval, we may need to collect some updated information and updated documents from you.
Step 5: Lock in your rate
At this point, if you'd like to secure your interest rate, your Mortgage Loan Originator
will send you a lock agreement to confirm the terms of the loan and rate.
Step 6: Home inspection and appraisal
It is advisable to schedule a home inspection with a professional who will walk you through the property to look for any red flags such as structural damages or appliances that may not be working properly and other items that may need to be fixed. While your loan is being reviewed and processed, we will schedule an appraisal appointment with the seller's agent to confirm the value of the home.
Step 7: Loan approval, signing, and closing
Once we have everything we need, your Processor will submit your complete file to the
underwriting department for approval. Once approved, we will prepare loan documents for you to sign.