Whether you're preparing to buy a home, getting ready for a mortgage application, or considering a refinance, use these resources to understand what to expect and prepare for the next step.
Buying a home involves several important steps. Use this guide to understand what typically happens throughout the mortgage and homebuying process.
Consider the potential mortgage payment along with property taxes, homeowners insurance, association fees when applicable, closing costs, and other homeownership expenses.
A mortgage pre approval can help you understand potential financing options before you begin seriously shopping for a home.
Financing may include Conventional, FHA, VA, USDA, down payment assistance, or other programs depending on eligibility and circumstances.
Work with a real estate professional, evaluate properties, and keep your mortgage team informed during the search.
An offer may involve purchase price, earnest money, financing terms, seller concessions, inspection provisions, and other contract terms.
After a property is under contract, complete the mortgage application and provide the information and documentation requested for the transaction.
The lender reviews documentation, verifies applicable information, evaluates the property when required, and completes underwriting.
Review final documents, confirm funds and instructions, complete outstanding requirements, and prepare for settlement.
Sign final documents and complete the transaction according to the closing process.
The documents needed for a mortgage can vary by borrower, property, loan program, and lender. Use this checklist as a general starting point for organizing information that may be requested.
If you're considering refinancing, getting organized before you apply can help you better understand your current mortgage, your goals, and the information that may be needed during the process.
Mortgage documentation and requirements can vary based on the borrower, property, transaction, loan program, lender, and other factors. These guides are intended as general educational resources and are not a complete list of requirements.
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