The Process
The great part about buying a home is that you can take it one step at a time. In fact, it's the only way to buy without losing your sanity! There are many moving pieces and countless variables involved, but your Mortgage Heroes have traveled this path countless times and will see you through!
Most buyers begin this journey by looking online. They search houses on popular sites such as Zillow or Reatlor.com and start dreaming of the posibility of owning a home. It's an exciting and emotional process.
Then they choose to either contact a Realtor or a lender or bank; either way is perfectly fine. Often, one will lead you to the next. A good Realtor will have trusted Loan Officers they work with that they can refer you to. Similarly, Loan Officers have trusted Real Estate Agents they can refer buyers to as well.
However, in order to make an offer on a home, shoppers should make sure they qualify and for how much they qualify for. This is where we come in!
Step 1: Fill out a residential loan application. We will review your information and give you your next steps. This will require us to review you credit, income, and assets. Once you are pre-approved, we will issue a Letter of Pre-Approval which you can now use to make an offer!
Step 2: Go Home Shopping! Tell your Realtor what the needs of your and your family are and they will find you options to choose from! It's also important you connect your Realtor with us so we can work collaboratively and make sure the chances of your offer being accepted are high!
Step 3. Once you are under contract, we will all work together to get you to the closing table! In this stage, your Reatlor will assist you with tasks required to protect you such as a Home Inspection, Escrow Deposit, Homeowner's Insurance selection, and much more. Your Mortgae Heroes will work with you to gather the necessary documents the lender will need to review and approve! We will get your appraisal, title work, and other required verifications completed.
Step 4. Once all of the underwriters conditions have been satisfied, we will be Cleared to Close! These are the three magic words we all want to hear! At this point, the title company will schedule your closing so you can sign and hand you the keys to your new home!
The loan flow process is a bit more involved. The process can take anywere from 14-30 days or more, depending on the time set forth in the contract. Our goal is to make it as stress-free to you and work diligently to keep the loan approval moving along. The diagram below is specific to the the loan flow process.
