Hop on the Path That Leads to Your New Home

After meeting with your realtor, they will advise you to obtain a pre‑qualification from your bank, to determine what you can afford. Call or stop by your bank to speak with a bank representative or apply online.

Once you’ve found the perfect home, you can negotiate your purchase contract with your seller, the seller’s real estate agent or your real estate agent.

The easiest way to do this is to start with our Application Checklist. Once you have gathered all of the required information, you can then either meet with a Mortgage Originator or simply apply online

Choose a closing agent or attorney who will make sure all title and deed transfers for your new home are verified. This is the person who will close your loan at the end of the completed mortgage process.

Once the bank receives your completed application, the mortgage application process begins. Your bank will review your employment, income, assets, debt, credit report and other applicant information for your loan.

The bank will call for an appraisal which estimates the value of the property. A copy of the appraisal will be sent your way once the bank approves. This is the time for you to have a home inspection done if you choose to do so. An appraiser and a home inspector look at the property in very different ways.

The bank will review all of the information provided for your application before a final decision is made. This review entails a thorough analysis of your income, credit, cash reserves and the property itself. If applicable, you may be asked to verify some information before the bank makes a final decision.

After the bank has approved your loan, you’ll receive a commitment letter outlining the details of your mortgage. This letter will layout the terms of your loan. Make sure you start shopping for homeowner’s insurance as you’ll need proof of this coverage prior to closing. The policy should be forwarded to your attorney or closing agent no less than one week prior to closing.