THE LOAN PROCESS

• Why? It helps you understand how much you can afford. When you’re pre-approved, you get a clear idea of what you can spend on a home and show sellers you're serious.
• What Happens? You fill out a loan application and provide details about your income, employment, credit score, and other financials. This helps the lender estimate how much they could loan you.

• Why? Now that you know your budget, you can confidently start house hunting with your real estate agent.
• What Happens? Look at homes, attend open houses, and find a property that meets your needs and budget.

• Why? Once you find “the one,” it’s time to make an offer. If the seller accepts, you’ll sign a purchase agreement.
• What Happens? Your real estate agent helps you negotiate the terms, and you both agree on a price. This agreement is needed for the lender to start the actual loan process.

• Why? This is when your lender verifies that you qualify for the loan and that the property is a good investment.
• What Happens? You’ll provide documents like pay stubs, bank statements, tax returns, etc. The lender then evaluates these, along with the property, to make sure everything looks good for the loan.

• Why? The lender needs to confirm that the property’s value matches your loan amount.
• What Happens? The lender orders an independent appraisal to verify the home’s market value. This ensures you're not overpaying and protects the lender's investment.

• Why? Once all checks are done, the lender makes a final decision on your loan.
• What Happens? After underwriting, the lender will approve the loan if everything checks out. You’ll get a “clear to close,” meaning you’re ready to move forward.

• Why? This is the last step—when you officially buy the home.
• What Happens? You’ll meet with your agent, the seller, and a closing agent to sign all the paperwork. You’ll also pay any final costs (known as “closing costs”). Once everything is signed, the keys are yours!

• Why? Congratulations! You’re now a homeowner.
• What Happens? You get the keys, move in, and start enjoying your new home.

This is a basic overview, but I’m here to answer any questions or explain each step in detail. The whole process typically takes a few weeks to a few months, and we're here every step of the way to make it as smooth as possible!