I know we all want that key to the new front door of our dreams. A home. A new home. A place to raise a family, welcome a new member of the family to the world. Or a place to enjoy the company of our friends neighbors or again family. A new home is a dream come true to many families around the world not just here in the U.S.
Buying a new Home can be a lot of work but it all pays off in the end. To make your life easier we’ve manage a list for your information and called it “The 6 Steps to Your New Front Door”. Sounds simple right? In these Six steps I’ll highlight what you need to know to take proper strides to owning a new home.
The Application Process
Like most jobs whether corporate America or a simple job at McDonalds all things usually start with an application. In this step Agents try to find out as much as they possibly can about your mortgage goals in order to put together a great strategy to help you for your home financing. In this step you should we (I’m also an agent) would have you sign your disclosure, lock your rates and also sign your appraisal.
Submit to Process
In this step we want to make sure that your loan is a good fit for you. This is important because we want to be able to put together a good case for the underwriter. When your appraisal comes in we’ll check the home to make sure that its in good shape and that you wouldnt be paying too much for something crappy.
Submitting for Conditional Approval
By this point we are literally halfway there. In this step we are finally ready to present your files to the underwriter to get your mortgage officially approved.
Let this process sink in, you are literally halfway. You can almost smell the key to your new front door already in the palms of your hand. But we do have a couple more steps to go up next is Receiving your Conditional Approval.
Receiving your conditional Approval
By this step your files have already been returned back from the underwriter and has been approved. The only thing we need left to complete this step is a few more pieces of information.
Conditions Submitted for Final Approval
Dont bite your nails in this step. By this step we’ve collected literally everything that the underwriters have requested and now we wait for their final reply. This can be a little nerve wracking but keep your hopes all the way up.
Clear to Close
Remember how in step 4 I said you can smell the key to your new front door? Yep!!! Byt this Step you’ve made it. You reached the goals that you had at the very beginning of this journey. You got your new home!!! Congratulations you did it. Couple things you need to complete this step is a Driver’s license and Down Payment Check. Bring those to the closing table and sign off on your new home.
Hoped this information was helpful and very useful to you guys. There are a lot of great
information about houses and mortgage and what not. Click here for some houses to check out in the Brockton MA Area.
Thanks for reading.