The Home Loan Process
Demystifying Home Loans
If you haven’t experienced it before, the home loan pre approval process can feel overwhelming, but our team at Pinpoint Properties will help you stay informed throughout every step, from mortgage loan 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 mortgage lenders in the industry, and we’d be happy to introduce you so you’ll be taken care of by the right professionals, including top realtors and trusted mortgage loan officers.
Get Pre-Approval
Before you start looking for a home to buy, it’s a good idea to meet with your mortgage loan officer to get pre-approved for a mortgage loan. At this stage, the lender gathers information about your income, assets, and debts 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 mortgage loan programs, so make sure to get pre-qualification for the specific programs that best suit your needs. Using a pre approval mortgage calculator can also help you estimate your budget before you begin shopping for a home.
We Help You Get The Best Loan
Start The Process
At Pinpoint Properties, we’ll help you find the “best local real estate agents near me” and connect you with a trusted mortgage specialist or loan officer who can secure competitive rates and the mortgage loan programs that best fit your individual needs. Fill out this form, and we’ll connect you with the right mortgage lender today!
Application & Processing
What happens when a loan goes "live"
When you find the property you’re ready to buy, your lender will help you complete a full mortgage loan pre approval application, and walk you through the various fees and down payment options. The application is submitted to processing, where the documents are reviewed, appraisals and title examination are ordered, and the file is prepared for underwriting.
Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance. Throughout this process, Pinpoint Properties stays in touch with both your real estate agent and mortgage loan officer to ensure a smooth transaction.
Closing
Signing and Finalizing the deal
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, thanks to the support of Pinpoint Properties, your chosen top realtor, and your mortgage loan officer. Congratulations, happy homeowner!
