First, you’ll want to check your credit report. There are free resources out there such as Credit Karma that will allow you to do this. Make sure there are no errors and that you are in good standing.
Next, reach out to a mortgage company to get pre-qualified. They should give you a clear list of what they’ll need for this including income, debts, and assets among other things.
You’ll then move to a pre-approval which includes a more in-depth process of checking your finances and deciding what loan you’d like.
Once accepted, you’ll submit your final application. Are you getting excited yet?!
A home appraisal will then be scheduled by the lender of the new home you plan to purchase in order to verify the value of the home.
This is where the loan is approved after the lender reviews the loan package. It could also be denied or suspended at this process, but we don’t see that happening for you.
Lastly, is giving your autograph! You’ll need to sign all the appropriate paperwork to complete the loan.
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