The Home Loan Process
If you haven’t experienced it before, the home loan process can feel overwhelming, but our agents will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, we partner with some of the best lenders in the industry, and we’d be happy to introduce you, so you’ll be taken care of.
(1) Pre-approval
Before you start looking for a home to buy, it’s a good idea to meet with your Loan Officer to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assets and debts of the borrower (you) to determine how much house you may be able to afford. This includes a credit report, W-2 forms, pay stubs, Federal Tax Returns and recent bank statements. There are a variety of different loan programs, so make sure to get pre-qualification for the specific programs that best suit your needs.
(2) Application & Processing
When you find property you’re ready to buy, your lender will help you complete a full mortgage loan application, and talk you through the various fees and down payment options. The application is submitted to processing, where the documents are reviewed and appraisals and title examination are ordered. Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance.
(3) Closing
Don’t be surprised if you’re asked for additional documentation or clarification throughout the process. Once your loan is approved, don’t forget to set up homeowners insurance. Your documents will be sent to the title company, where you’ll sign for the new home and pay any remaining costs. Then the loan is recorded and you get the keys. Congratulations, happy homeowner!
Is it a good time to buy?
I get this question a lot—many buyers try to time the market. The truth is, it’s nearly impossible to do so. Real estate markets go up and down, and while that’s almost guaranteed, we can’t predict exactly when it will happen. My goal is to sit down with you, understand your unique situation, and help you determine if now is the right time for you to buy. Everyone’s journey is different, and I’m here to guide you every step of the way!
Do I need to put 20% down for a loan?
This is a common myth that many people don’t realize isn’t true. There are plenty of loan options available, including some that require zero down! So, the short answer is no—you don’t need 20% down to buy a home. That said, there are some financial benefits to putting more down, and I’d love to sit down with you to go over the details. My goal is to help you make the best decision as you move forward in your home-buying journey.
Do you work with VA and FHA loans and buyers?
I absolutely do! I have plenty of experience working with VA loans, and I also work closely with a trusted lender who specializes in them as well. VA loans are a bit different from conventional loans, so it’s important to have an agent who knows how to navigate the process smoothly. I’m here to make sure everything goes as seamlessly as possible for you!
Contact information
Phone: (801) 706-8832
Email: [email protected]
Address: 6925 S Union Park Center
Ste 100, Midvale UT 84047
