Applying for a home loan is the first step to take when getting serious about buying a home. It will help you understand how much house you truly can afford. Get ready for the application process by gathering your financial info, finding a lender to work with, and getting pre-approved. You can always shop around and pick another lender once you get an accepted offer.
Mortgage loan pre-approval means approaching a lender with financial, credit, debt, and other information that will help them determine if you qualify for a loan at a certain amount.
Funding Your Home Purchase: 5 Simple Steps
1. Financial pre-qualification or pre-approval
Application and interview
Buyer provides pertinent documentation, including verification of employment, and Credit report is requested
2. Underwriting
Loan package is submitted to the underwriter for approval
Appraisal of the home takes place
3. Loan approval
Parties are notified of approval
Loan documents are completed and sent to title
4. Title company
Title exam, insurance, and title survey conducted
Borrowers come in for final signatures
5. Funding
Lender reviews the loan package Funds are transferred by wire
& BOOM, congratulations! You are now the proud owner of your new home!
Why pre-qualify?
We recommend our buyers get pre-qualified before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means.
To get in contact with some of Tampa's best Loan Officers, contact (813)-528-1121.
Here to help make your home buying experience a breeze.
