Loan Road Map: Stop #8 Final Approval After the home inspection and appraisal are received back, the loan goes back to underwriting one last time. The underwriter wants to make sure the loan amount aligns with the correct value of the house to be purchased. If all the documentation is accepted, you will receive … Continue reading Loan Road Map: Stop #8 Final Approval
Loan Road Map: Stop #7 Homeowners Insurance Homeowners insurance helps you protect the biggest financial purchase of your life! Here are a few reasons why it’s important: It might be necessary. Before closing on your new home, we require you provide proof that your house is insured. It provides protection for more than … Continue reading Loan Road Map: Stop #7 Homeowners Insurance
Loan Road Map: Stop #6 Appraisal and Title An appraisal decides the value of the property that you are purchasing. This is important because it decides how much money a bank is willing to lend you for the property you want to purchase. An appraisal starts with an inspection of the inside and outside of … Continue reading Loan Road Map: Stop #6 Appraisal and Title
Loan Road Map: Stop #5 Applications and Disclosures A mortgage application helps the lender decide how much money to lend the borrower. Here’s a breakdown of what’s included on the forms: Type of mortgage and terms. This section describes the loan, loan program and the terms to the loan. Property information and purpose of the … Continue reading Loan Road Map: Stop #5 Applications and Disclosures
Loan Road Map: Stop #4 Home Inspection Contingent upon you taking ownership of the home is your home inspection. A home inspection is a full examination of the condition of the home. Home inspections can help alert potential buyers to problems that probably aren’t easily noticeable. A home inspector is a professional third-party who will … Continue reading Loan Road Map: Stop #4 Home Inspection
You received a pre-approval letter, found a house you liked and made an offer. Now what? When you submitted your offer in writing, you decided on what price to offer on the home, if the offer would be contingent upon the home inspection and a deadline for a response. The offer is followed by … Continue reading Loan Road Map: Stop #3 Purchase Agreement
Loan Road Map: Stop #2 Home Search and Offer Now that you have a preapproval in hand, the REAL fun begins — shopping for a home! There are many things to consider when shopping for a home. Searching for a home allows you to get a feel for a new neighborhood, a new school district … Continue reading Loan Road Map: Stop #2 Home Search and Offer
Loan Road Map: Stop #1 Get Pre-Approved There are many advantages of pre-approvals for active home shoppers. Here are some common questions and answers about pre-approvals. What are the Advantages of Pre-Approvals? A pre-approval will tell you how much a lender is willing to lend you. If you are shopping for a home, it’s … Continue reading Loan Road Map: Stop #1 Get Pre-Approved
Trust: the firm belief in the reliability, truth, ability, or strength of someone or something. Being able to trust your mortgage lender is vital when embarking on the mortgage journey. When you purchase a home, you are making a big investment and securing the right financing can have an impact on your financial future. You … Continue reading HOW TO BUILD A TRUSTING RELATIONSHIP WITH YOUR LENDER
Knowing how to submit the perfect home loan application can help you start your homeownership journey off on the right foot. Here are some helpful tips to ensure a smooth loan process. For a Smooth Process An Inlanta Mortgage loan application is your first step to homeownership! No documentation is needed to submit a loan … Continue reading Submit the Perfect Home Loan Application
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