What are the basic steps of the home loan process?

1. Get pre-approved first. It is tempting to look for a home before you speak to a Mortgage Loan Originator. But a little bit of patience upfront, will save you time — and potential heartache – by first getting your mortgage pre-approval you will know exactly how much you can afford . Talk to a Finance My Home Mortgage Loan Originator.

2. Put in your offer. After you find a home and put in a sales contract, your Mortgage Loan Originator will finalize your loan application. You will then be asked to submit any additional documents needed for your loan.

3. Get the home appraised. The property appraisal — determining the home’s value — is ordered.

4. Shop for homeowner’s insurance. The loan is submitted to the Underwriter while you shop for home insurance.

5. Final conditions met. The loan is conditionally approved by the Underwriter and the Closing Disclosures are sent to the borrower.

6. Approval to close. Your loan is approved and the closing documents are ready for signing!

7. Congratulations! You are now a homeowner!