Buying a Home is as Easy as Home123There is more to understanding the home purchase process than simply finding a home, making an offer, and closing the deal. That's why Home123 is here to make things easier on you. Call 1-888-215-0080 today and speak with one of our expert Mortgage Consultants and get started on the path to home ownership. What Can You Afford?The first part of the home purchase process is finding out how much home you can actually afford. This is based on how large a down payment you have, plus what kind of monthly payments you can afford. Our Loan Tool Kit provides a handy Mortgage Qualifier Calculator to get you started.
The next step is to contact an expert from our network. A Mortgage Consultant will then work with you to review your monthly income to your monthly obligations (debts) and determine how much you'll have available each month to spend on a home loan. This information will give you a great place to start. It also means you're less likely to suffer the heartache of falling in love with a home you can't afford. DocumentationA mortgage expert we'll tell you exactly what documentation you'll need to have on hand when the time comes to secure your loan. The mortgage expert can even pre-qualify you. Being pre-qualified means you have conditional proof of your ability to obtain a loan from us, up to a specified amount, which puts you one step closer to a purchase. Finding Your Dream HomeNow you're ready to house hunt, and that means finding the house you can afford and wish to purchase, making an offer, and coming to an agreement. A buyer's real estate broker or agent can help you with this process and will represent your interests and not the interests of the seller. You should consider working with a broker/agent who can provide you with valuable information regarding the neighborhood of your dream home, current housing prices, negotiation advice, and other tips.
Once you've found the home of your dreams, it's time for the loan. To get the loan you need, just provide your Mortgage Consultant with a copy of your purchase agreement, a completed loan application and all required documentation. Your mortgage consultant will promptly process your loan application and, if all requirements are met, soon you'll be one of America's new homeowners. What You Need to ProvideBefore your loan application can be underwritten, you will need to supply the mortgage with certain personal documentation. This may include:
Property InformationYou'll also need to provide information about the property you plan to buy. This includes:
What Goes On At Our EndAfter you submit the property information for approval, a mortgage consultant will order your title and escrow settlement. If you cancel the loan after title work has been ordered, you may be responsible for preliminary title fees charged by the title company.
Next, a qualified appraiser will look over the property and submit a report to mortgage consultant. This lets us determine if the home is worth enough to support your loan. A final underwriting will take place that involves analyzing the appraisal report and your ability to repay the loan to determine our risk as a lender.
Once the mortgage consultant approves your loan, the next step is to decide whether you will lock your rate with the mortgage lender. Locking in your rate ensures that your interest rate won't increase before you close your loan. Rate lock options include 30, 45, or 60 days. However, timing is everything, and locking may not be the right choice for you. It's best to consult with your mortgage consultant.
Call 1-888-215-0080 to speak with an Expert Mortgage Consultant or start your application today using Apply Now
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