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Ten Steps to Homeownership

Follow these steps toward a smooth transaction.

A home is one of the most significant purchases people will ever make. We want you to feel as comfortable as possible with the entire process, from making the decision, to purchase, all the way to receiving the keys to your new home. One of the best ways to accomplish this is to know exactly what to expect from each of the ten steps involved.

Step #1: Apply for loan approval

Consult with a Loan Officer who will answer your questions and complete an application. This involves providing your Loan Officer with the requested documentation detailing your income and assets.

Step #2: Shop for a home

Qualified applicants are provided with a conditional loan approval so your real estate agent knows your target price range. This will help take the guesswork out of shopping, so you can focus on the important features you’re looking for in a home.

Step #3: Make an offer on a home

Once you’ve found your ideal home, your real estate agent will handle the contract negotiations and your Loan Officer will move forward with your application.

Step #4: Home inspection

You may choose to contract with a home inspector who will provide information about the home’s condition. While sometimes optional, this step is recommended to help avoid potential surprises down the road.

Step #5: Set up insurance

Work with an insurance agent to get homeowner’s protection on your property. You should provide your Loan Officer with your insurance company’s information.

Step #6: Home appraisal

The appraisal gives you an unbiased opinion of the fair market value of a home. Your Loan Officer will order a home appraisal to help determine if the home's sales price or refinance value basis is appropriate. You will receive a copy of the appraisal report.

Step #7: Loan underwriting

Underwriters will review your loan application and documentation for final approval. Additional documents might be requested from you at this time.

Step #8: Documents sent to title company

Your final loan documents will be sent from the lender to the title company, where everything is assembled and prepared for you to sign at closing.

Step #9: Closing

You will meet with your title company representative to sign all the documentation and provide a cashier’s check or set up a wire transfer for your down payment and closing costs (as applicable).

Step #10: Funding

Once everything is signed, your lender funds your loan and the title company records the deed or mortgage with the county. With that, your home purchase is now complete!

If you’re ready to become a homeowner, or if you have questions about whether you could be, we would love to help you take the first step.

Have home financing questions?

All loans subject to approval.


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