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Buying a Home

...and Getting a Home Purchase Loan

Make no mistake, there's a lot involved in buying a home and getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. Fortunately, we can do most of the heavy lifting for you, so you can concentrate on what's important -- preparing to move into your new home.

Here's an outline of the steps to closing your loan and taking ownership of your new home.

Pre-Qualify for a Loan

You share some basic information about your finances with us, and we give you an approximate range of home prices that are possible for you. You can get your information to us by filling out our short application form, or give us a call.

If you just want a quick, rough idea of how the numbers work, try our Home Affordability Calculator:

Get Pre-Approved for a Loan

You complete our full online loan application and give us permission to run your credit report. You don't have a house picked out yet, but, if you qualify, one of our loan underwriters will approve your loan subject to a qualifying property with a maximum purchase price. We'll give you a detailed letter verifying that you are pre-approved for a loan, so you and your prospective sellers can negotiate in confidence.

Loan Application

Once you have made an offer on a house and the offer has been accepted (subject to financing, of course), we'll fill in the missing property information on your loan application. We'll collect a few other pieces of supporting documentation from you and your real estate agent.

Loan Processing

Once your application is complete we will gather supporting documentation, such as ordering an appraisal of the house, a title report, and more. After a few days the loan file is ready to be reviewed by a loan underwriter.

Underwriting

Underwriting your loan file means determining whether we can approve it, usually subject to some conditions that must be met before the loan can close. If we have already pre-approved your application then the underwriting is focused mainly on the property you have selected.

Satisfy Loan Conditions

Our staff will perform whatever tasks are needed to satisfy those conditions, including following up with you as needed to gather additional supporting documentation that the underwriter may have requested.

Sign Loan Documents

Once most or all of the loan conditions are satisfied, your final loan documents will be drawn up. You will be asked to sign the documents. If you wish you can sign your loan documents in the convenience of your home. The loan documents will then be returned for review and final approval.

Loan Closing

Once the loan documents are cleared for closing, loan funds will be sent to the escrow agent electronically, so your loan (and home purchase transaction) can close. This usually occurs one to two days after the loan signing. The home is now yours!