Buying a home is one of the most exciting experiences for you. You’re about to make one of the largest financial investments, it is very important that you seek the right advice form a trusted mortgage professional that can tailor and personalize your home loan. Direct Capital Funding can help with all your needs; we will listen to you carefully and answer all your questions to make certain that you completely understand the home buying process. We can help!
GET PRE-QUALIFIED BY A TRUSTED MORTGAGE PROFESSIONAL
The pre-approval process is one in which a mortgage professional interviews the home buyer, reviews the credit report, employment, income finances, including debts and calculates how much home the buyer qualifies.
CHOOSE A REAL ESTATE AGENT
Finding the right agent is key, an agent with years of experience, knowledge and who understands the real estate market. As a result this will save the home buyer time and frustration. The recommendation of friends or family members is one of the best ways to choose a real estate agent.
BEGIN VIEWING HOMES
Once a person has chosen a real estate agent and knows how much you can afford in terms of a home, it is time to look at the details of where to live. Often people choose a location-based off of factors such as family and work. Although a person may have a general idea of where he or she would like to own a home, it is important to consider all of the options. Location, Location, Location is very important.
MAKING THE OFFER
Once the buyer has found the perfect home, it is time to make an offer on the property. This is an area in which a real estate agent is invaluable. He or she will base the offer price off of comparable homes that have sold recently in the area. The agent will draft a contract that is agreeable to the home buyer. The contract will include the price of the offer, as well as terms that the seller and the buyer will need to meet in order to achieve a successful transaction. The agent will ensure that the contract meets all of the necessary legal requirements.
SECURE THE MORTGAGE
Once the offer has been approved, the buyer will need to secure the mortgage. This is done by completing the mortgage application. If a person has not been pre-approved or pre-qualified, it will likely take longer to complete this process. Most buyers will choose fixed rates rather than adjustable rates. Once your loan has been formally approved by the underwriting department, property appraised, and loan documents have been signed then the closing phase begins.
PURCHASE TRANSACTION CLOSES
Closing is where ownership of the home is legally transferred from the seller to the buyer, It is a formal meeting that most parties involved in the process will attend. Closing procedures are usually held at the title company’s office. Your closing officer coordinates the document signing and the collection and disbursement of funds. Then the deed of trust records at the local county recorder’s office.
Need a Pre-Approval Letter for Your Loan? We got you covered.
Getting a pre-approval letter in advance is very important and a requirement. Knowing your buying price range, interest rate, loan type and monthly payments are key components before shopping for your dream home. Direct Capital Funding can help prepare you in advance so that your journey becomes hassle-free. As your trusted mortgage professional we guarantee 100% customer satisfaction. We can help!