The Loan Process
A clear path from
pre-approval to closing.
Thank you for your outstanding work throughout my home-buying process. Purchasing a home can be stressful, but your communication, dedication, and hard work made the experience smooth and gave me confidence along the way. Receiving the clear to close was a huge milestone, and I know it was made possible because of the effort you and your team put into my file. I truly appreciate everything you have done to help me achieve this dream of becoming a homeowner.
Daniel B.
El Paso, Texas
Could not have asked for an easier and more pleasant experence. Thank you!
Lloyd M.
Frankford, Delaware
Your communication is amazing and I appreciated knowing where things were at with things at all times!
Len N.
Woodridge, Illinois
Step 1
Start With a Conversation
Your homebuying journey starts with a conversation about your goals, budget,timeline, and financial picture. You and your loan officer will discuss your short- and long-term plans, including your ideal monthly housing payment, estimated down payment, and the type of home you want to buy. This first step helps you understand what may be realistic before you begin searching, so you can move forward with a clearer plan and fewer surprises.
Step 2
Get Pre-Approved
Beforeyou start looking at homes, your loan officer will review your credit, income, assets, debts, savings, loan program options, and property goals. A stronger pre-approval helps you understand your buying budget and can give you more negotiating power when you are ready to make an offer. It also helps identify the type of loan and property that may fit your financing needs.
Step 3
Find the Right Real Estate Agent
Theright real estate agent can make a meaningful difference in your homebuying experience. A knowledgeable agent will understand the local market, help you identify homes that fit your needs and budget, and negotiate on your behalf.
If you do not already have an agent, let us know. We can help connect you with an experienced real estate agent in your area.
Step 4
Go House Hunting
Once you are pre-approved and connected with an agent, you can begin searching for homes that match your goals. Think through the features that matter most, including location, price, size, number of bedrooms, schools, commute time, amenities, walkability, and future resale potential. Sharing your priorities with your agent can help narrow your search and make the process more focused.
Step 5
Make an Offer and Schedule Inspections
When you find the right home, your agent will help you review comparable sales, current market conditions, and a fair offer price. You may also discuss contingencies that can help protect you during the process. After your offer is accepted, a professional home inspection can help identify property concerns, safety issues, or needed repairs before closing.
Step 6
Complete the Loan Journey and Close
Once you have an accepted offer, your loan moves through the different stages to closing:
Processing - We submit your financial documents and information to the underwriter. Your loan team will let you know if updated documents or additional information are needed along the way.
Appraisal - A professional appraiser is sent to inspect and assess the property to determine its market value. This could take up to 2 weeks.
Underwriting - An underwriter reviews your loan file and documents. If any additional information is needed, it will be requested.
Closing Disclosure - This document is sent to you via email once your loan has been approved by underwriting. It will include an estimate of your final numbers.
Clear to Close - These are the magic words! Underwriting has cleared your loan and your closing date can be scheduled.
Close Day - Before signing final paperwork, you will complete a final walk-through to ensure the property is in the same condition as when you made the offer and verify that any agreed upon repairs have been completed. Once documents are signed, funds are released, and the sale is recorded with the county, you are officially a homeowner. Congratulations!