Buying A Home
Buying a home will provide more than a place to live.
It’s a place that you own, where you can totally relax.
After buying a home, you’ll create many memories.
Begin your home-buying journey:
Check your credit
Contact a loan originator
Gather your documents
Shop for a home
Make an offer
Complete the mortgage approval process
Attend the closing of escrow
Get the keys to your home
Check your credit - Your credit report and credit score indicate how you’ve managed to repay your consumer debts. Your loan originator will recommend loan programs that align with your credit history, debt-to-income ratio and your financial goals.
File a dispute with the respective credit bureau for recent inaccuracies.
For erroneous information that was reported more than a year ago, speak with a loan originator about ways to proceed.
Contact a loan originator - Speak with a loan originator about buying a home.
Inquire about the loan approval process and your next steps toward applying for a mortgage loan.
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Gather your documents - Create a folder for items that your loan originator will need to get your application fully reviewed.
For most home-buying loan programs, you’ll need financial documents for the past two years, such as W-2’s, tax returns and bank statements for the past 3 months.
Include within your folder, any credit explanation letters, inspection reports for the subject property, homeowners insurance and proof of funds for closing.
Shop for a home - if you’re buying a home for the first time, speak with a licensed real estate agent about the type of home that you want.
Inform her that you’re working with a mortgage loan originator and about your loan approval status.
If you have not contacted a real estate agent, your loan officer can recommend reputable Realtors nearby who can help you find a home.
Make an offer - negotiations are a part of the home-buying process.
Based upon the asking price, competitive bids and the property’s overall condition, your real estate agent can guide you toward making an offer.
A buyer who has secured a mortgage approval in AZ, CA or CO, often receives greater consideration from agents and sellers than buyers who are not approved to purchase a home.
Complete the mortgage approval process - quickly expedite any documents, billing statements, receipts or other items to your loan originator or loan processor to avoid processing delays.
Once all of the underwriting conditions are resolved, your lender can schedule your closing.
Attend the closing of escrow - At this stage of buying a house, you’ll meet with a settlement agent to sign final loan documents and to present certified funds for your down payment and closing costs.
Get the keys to your new home - Everyone has a unique experience on their home-buying journey.
However, getting your keys is the final milestone toward buying a home.
Mindful Money offers attractive mortgage rates for refinancing or buying a home in AZ, CA or CO.
Apply online today for an affordable home loan using our quick and convenient mortgage application portal.
