Here’s What Happens When You Purchase a Home The AMERAN Group Enhancing Communities One Homeowner at a Time C.

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Presentation transcript:

Here’s What Happens When You Purchase a Home The AMERAN Group Enhancing Communities One Homeowner at a Time C

Consider Purchasing a New Home Prequalify with your Realtor or Lender Select A Realtor Discuss Agency Laws

Using Mortgage Lender Make formal application with mortgage lender Application information is entered into the Processing System and your interest rate is locked, if you requested a rate lock: You are sent “hello” letters and disclosures Credit documentation is obtained: Clarification needed Favorable report

Mortgage Lender Continued… A property appraisal and verifications are obtained The underwriter evaluated your verified info against approval criteria Approved or Declined Loan Approved: Title Company: Title Search Documentation Preparation The Closing is Held Moving Day!