Home Buying Process

 
 

1 - OBTAIN PRE-QUALIFICATION

  • Pull Credit

  • Go Over Loan Options

2 - GATHER SUPPORTING DOCUMENTS

  • Last 2 Months Paystubs

  • Last 2 Month Bank Statements

  • Last 2 Years W2s And Tax Returns

  • Social Security Card

  • Drivers License

3 - PRE-APPROVAL ISSUED

4 - View Properties

  • Write An Offer To Purchase – Earnest Money

  • Negotiate/Counter Offers

  • Accept Contract

  • Home Inspection $300-$500 (Paid By Buyer Upfront)

5 - LOCK RATE AND DISCLOSE LOAN

  • Lock Interest Rate

  • Sign Initial Loan Estimate

  • Appraisal Ordered $680+ (Paid By Buyer Upfront)

6 - SUBMITTED TO UNDERWRITING

Buyer Obtains Homeowners Insurance Quote And Submits Details To Processor

7 - UNDERWRITING RESULTS

  • Approved With Conditions

  • Processor Will Notify You Of Any Items You Need To Provide

8 - CONDITIONS SUBMITTED TO UNDERWRITING

Revised Or New Documentation Submitted For Approval

9 - CLOSING DISCLOSURE ISSUED

3 Days Prior To Closing Borrowers Sign

10 - CLEAR TO CLOSE

Closing Documents Requested For Closing 24hr From Clear To Close

11 - FINAL REVIEW

Your Final Numbers Are Reviewed And Closing Instructions Provided

The Documentation You Will Need

  • Last 2 Months Paystubs

  • Last 2 Months Bank Statement

  • Last 2 Years W2s And Tax Returns

  • Social Security Card

  • State Issue Drivers License

IF SELF-EMPLOYED:

  • Last 2 Years Complete Tax Returns

  • Profit And Loss Statement Signed By Accountant

  • Business License

  • Social Security Card

  • State Issue Drivers License

IF USING CHILD SUPPORT, ALIMONY, RETIREMENT, DISABILITY, OR SSI INCOME

  • Social Security Card

  • State Issue Drivers License

  • Child Support Or Alimony

    • Proof Of Receipt For 3 Months And Proof Of Continuance For 3 Years

    • Child Support or Alimony Order From Court

    • Divorce Decree

  • Awards Letter

    • Last 2 Years

    • Last 3 Month Bank Statements

  • Asset Accounts

    • Last 2 Months Full Statements

  • SS/VA Benefits

    • Awards Letter