The document outlines the typical steps in the home buying process from pre-approval through closing. It includes submitting documents for pre-approval, working with a real estate agent to find a suitable home, making an offer, undergoing an appraisal and inspection, processing the loan application, reviewing closing documents, and finally closing on the purchase. It also provides some tips on dos and don'ts during the process like avoiding new credit applications and staying current on existing accounts.
Cashpay_Call Girls In Gaur City Mall Noida ❤️8860477959 Escorts Service In 24...
Home Buying Guide: Steps from Pre-Approval to Homeownership
1. Pre-approval
Submit your preliminary
documents: W-2’s,
pay-stubs, bank statements
& tax returns.
Helpful Tips & Common Errors To
Avoid During The Home Buying Process.
Home Search
Look for a home that best fits
your family’s needs, as well
as your loan eligibility. Work
with a Real Estate Agent to
help navigate.
Offer
Make an offer the seller
can’t refuse! Once they
have reviewed and agreed
to your offer, cross the
“t’s” and schedule a home
inspection.
Appraisal
Initially ordered during the
first week of the contract
phase, after your intent to
proceed is received.
Processing
You are now in the
processing stage! Processor
completes all updated
information, verifications for
credit, employment & assets.
Appraisal Report
You will receive a copy of
your appraisal report via
email within 3 days of
receipt.
You Are Now A
Homeowner!
Congrats On This
Milestone!
Start
Post-close
Speak with a tax specialist on
how you can take advantage
of owning a home.
Experience all that comes
with home ownership!
Closing
You are so very near to
obtaining the keys to your
new home! All parties sign
closing documents with the
Title Company’s closing agent.
Underwriting
Processor submits file to
underwriting department.
Conditional approval issued.
Application
Process
Submit updated docs and
information from the
pre-approval stage before
entering into a loan
agreement
Final Inspection
You will conduct one more
walkthrough to approve of
the home’s condition prior to
signing closing
Homeowners
Insurance Policy
Now is the time to start
shopping for your
Homeowners Insurance &
tax returns.
Clear To Close
You and your attorney are
notified that your file is “clear
to close.” A closing date and
time will be scheduled via
both party’s counsel.
Title Report
This will be provided from
the Seller’s Attorney for
review and clearance from
underwriting.
Commitment
Submit all outstanding
required conditions stated in
the approval letter for final
clearance by the lender.
Contract
Work with your Real Estate
Attorney to review and sign
the contract on your home.
Don’t
• Don’t apply for ANY new credit.
• Don’t close existing credit card accounts.
• Don’t buy anything that will increase your
debt level
Do
• Stay current on existing accounts. Late payments
could cancel your commitment
• Continue to use your credit as you normally
would, however, do no increase your debt.
• Call your Mortgage Banker for advice before
engaging in any transaction in question
Monopoly® is a registered trademark of Hasbro, Inc. This representation is intended
for educational purposes only. Any resemblance to the original is purely coincidental
and not to be used or distributed for commercial use. All rights reserved.
Synergy One Lending Inc. d/b/a Mutual of Omaha Mortgage (NMLS: #1025894), 3131 Camino Del Rio N 190, San Diego, CA 92108. Alabama Consumer Credit License #22123; Arizona Mortgage Banker License #0926603; Arkansas Combination Mortgage Banker/Broker/Servicer License #109250. Licensed by the Department of
Business Oversight under the California Residential Mortgage Lending Act – California License #4131356; District of Columbia Mortgage Dual Authority License #MLB1025894; Hawaii Mortgage Loan Originator Company License #HI-1025894; Illinois Residential Mortgage License #MB.6761115; Maine Supervised Lender License
#1025894; Maryland Commissioner of Financial Regulation - Mortgage Lender License #21678; Minnesota Residential Mortgage Originator Exemption #MN-OX-1025894; Nevada Exempt Company Registration 4830. Licensed by the New Hampshire Banking Department 19926-MB. Licensed by the New Jersey Banking and
Insurance Department – New Jersey Residential Mortgage Lender License #1025894; New Mexico Mortgage Loan Company License #1025894; Oregon Mortgage Lending License #ML-5208; Rhode Island Lender License #20163229LL. Rhode Island Loan Broker License #20163230LB; Vermont Lender License #6891.
Washington Consumer Loan Company License #CL-1025894. Toll Free No: (877) 978-1922. Subject to Credit Approval.
Jake Arthur
Mortgage Advisor
NMLS: 1109893
Cell: 330-421-2548
Work: 440-291-8498
5800 Lombardo Center, Ste. 200
Seven Hills, OH 44131
jarthur@mutualmortgage.com