How To Get Qualified

How to get qualified

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1. Application 

You will need to complete a mortgage application either in person, by phone, by mail or online. As part of your application, your lender will determine which loan program is the best mortgage program for your needs. Your lender will go over your financial goals and give you an idea of the home price for which you will qualify based on your goals and financial capabilities.

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2. Loan Processing

A loan processor will work with you to gather any and all required financial documentation and to clear any outstanding conditions required to get your final loan approval and will work with you from contract until closing.

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3. Underwriting

Your loan processor will submit your loan to Underwriting. The underwriter reviews your loan application, ensures that all the necessary information and documentation (relative to your loan program) is in your file and makes the final decision for loan approval.

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4. Closing 

At the closing you will review all of the documents with the closing agent. You also must wire or bring a cashiers' check for down payment, closing costs and pre-paid items, as applicable. After you have signed the loan documents, your loan documents will be recorded, and you will officially be a homeowner!