The Home Buying Process
Buying a home is one of the most exciting—and complex—transactions of your life. While there are some individuals who will have a different process due to individual circumstances, the typical home buying process includes about 15 steps:
- Submit loan application to the lender with any required documentation
- A pre-qualification may then be obtained from the lender
- Select a real estate agent- Wait you have me, Beth Paislye!
- Let’s go home shopping!
- I’ll negotiate the purchase price
- Contract is sent to the lender, who updates the application and requests updated documentation, if applicable from you, borrower.
- Home inspection
- Loan officer submits the file to processing at which time the appraisal, title, and tax
- certification are ordered and borrower provides insurance information
- File is submitted for Underwriting which may require additional documentation from the borrower to be resubmitted to Underwriting
- Final loan approval
- Closing documents sent to the title company or attorney
- Settlement Statement is given to borrower
- Required closing costs are established
- It’s time to close! Borrower brings a photo ID, signed closing documents and closing costs in the form of a cashier’s check or wired funds to the title company
- Funding – congratulations, you’re a Winchester homeowner!
I can transform the home financing process from a complex transaction to a straightforward, rewarding experience with a trusted professional. Contact me today to get started!
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