the Home Loan
OFFICIALLY APPLYING FOR A HOME LOAN
Preparedness is key! You are ready to officially apply for a home loan. You know the best lender for you, you have identified the best financial product for your purchase, and you have an executed real estate contract in hand for the perfect home. Now you have to arrange to pay for it.
Your lender will be working, behind the scenes, step by step, to get you to closing. Your job is to make sure they have what they need to get you there- sometimes it seems redundant- but it’s because there are many different parties involved all looking at information differently. You got this.
It is always better to be prepared upfront with EVERYTHING needed rather than slowly gathering documents because your loan officer must get a complete package off to underwriting and processing. Everything you miss holds up the process and makes your life more stressful. Even the most prepared applicant will have “conditions” that need satisfying along the way, always be quick to respond and get them what they need.
- Title insurance protects you against past problems
- Paid for one time
- Good for as long as you or your heirs retain an interest in the property
- Average cost: varies widely per state
