Blogs Tagged: loan documentation

Getting a Loan - Step 7: Closing

Posted On: Thursday, February 9, 2012 - 5:47am | Posted By: dianehourany
Topics: Buyers and Sellers

Yes! Your loan for your new home has been approved, the loan documents have been drawn and sent to the title company for you to sign. Once you've signed all the documents, the next and final step is the closing.

Getting a Loan – Step 6: Documents Are Drawn

Posted On: Wednesday, February 8, 2012 - 5:46am | Posted By: dianehourany
Topics: Buyers and Sellers

You've made an offer that has been accepted by the seller, your mortgage broker has sent in your loan package and the lender has not only approved you but the home you're buying. They've agreed to give you the money!

What's next?

Getting a loan - Step 5: Loan Approval

Posted On: Monday, February 6, 2012 - 5:31am | Posted By: dianehourany
Topics: Buyers and Sellers

Your offer on your dream home has been accepted and the loan application is in process. Now you're waiting for the final loan approval.

Getting a Loan - Step 4: Loan Submission

Posted On: Friday, February 3, 2012 - 5:32pm | Posted By: dianehourany
Topics: Buyers and Sellers

Your loan for your dream home is in process: you've submitted all your paperwork, the mortgage broker has ordered your credit report and the preliminary title report on the property, as well as an appraisal. The next step is for your mortgage broker to submit all of this documentation to the lender.

Getting a Loan - Step 3: Awaiting the Documentation

Posted On: Thursday, February 2, 2012 - 4:35am | Posted By: dianehourany
Topics: Buyers and Sellers

Your offer has been accepted for your dream home and your mortgage broker has begun the process of getting loan approval for you. He's ordered the documentation the bank requires.

Now we're Awaiting Documentation.

Getting a Loan - Step 2: Ordering the Documentation

Posted On: Wednesday, February 1, 2012 - 5:21am | Posted By: dianehourany
Topics: Buyers and Sellers

Yesterday we talked about the first step in getting a loan to finance your home purchase. After selecting a qualified, local mortgage adviser and providing him with your paperwork, he has issued a pre-approval letter for you to submit with the offer for your home. When your offer is accepted, things kick into high gear.


Find Out What It Takes to Get a Loan These Days

Posted On: Tuesday, January 31, 2012 - 3:19pm | Posted By: dianehourany
Topics: Buyers and Sellers

Before you even start your house hunting, you need a license! I liken the pre-approval letter from a qualified mortgage broker to a license to go house hunting. Without that piece of paper, you may think you know how much you can afford to pay for a home, but the banks may have a different idea of what you can qualify for.

Things Not to Do During Escrow

Posted On: Monday, May 2, 2011 - 6:00am | Posted By: dianehourany
Topics: Buyers and Sellers

Congratulations! The sellers accepted your offer and you've entered the escrow period during which your loan is processed and you perform your due diligence on the home. As you know, lenders have become very stringent with their requirements for lending. Once your mortgage adviser has pre-approved you for a loan, you don't want to upset the apple cart by changing the criteria used to get you pre-approved.