The Home Buying Checklist

 

__ 1. Call and schedule a consultation appointment.

• Fill out a residential loan application and bring it with you to the meeting.
  

 

__ 2. Have one of our Loan Officer's pull your credit report.

• Your credit score is compared to lender requirements
• Clean up your credit as needed.
  • Dispute late payments and write challenge letters
  • Call Collection Agencies for settlements
  • Have Loan Agent rapid re-score your credit report

 

__ 3. Determine How Much Of A Home You Can Afford To Buy

• Review proposed payment vs purchasing price
• Calculate your debt to income ratio
• Add a con-signer or payoff debt as necessary
• Consider advantages of other loan programs
  

 

__ 4. Review Your Available Cash To Close

• Amount of down payment and closing costs needed
• Review cash on hand and other cash sources
• Seller paid closing costs.
  

 

___5. Provide Loan Officer With Your Loan Documentation

• Last 2 years of tax returns and W-2s
• Last 30 day pay stub (any unemployment included?)
• Last 3 months of bank statements and retirement statements
• Divorce Decree
• Bankruptcy papers
  
  

 

___ 6. Loan Officer Inputs Your Information Into their Home Loan Finder Service

 

___ 7. Loan Officer Will Obtain Loan Approval Within 48-72 Hours And Then Call You.

 

___ 8. Call and Schedule a time to discuss your housing needs?

 

___9. Find a Home, Make An Offer, and Have It Accepted

 

 

___ 10. Open Escrow with the Title Company (click here for details on the Life of an Escrow)

• Earnest money deposit of $1,000-$5,000 on most median priced homes
• Deposit for appraisal $300 - $450 (refunded at closing)
• Order any inspections
  
  

 

___ 11. Appraisal And Inspection Come Back

• The Lender orders the appraisal and Inspections to the lender
• Our team will schedule any necessary inspections
• Our team will schedule any necessary repairs
• You may need to assist with any last minute lending conditions
  

 

___ 12. The Walkthrough of the property will occur approximately 5 days before the Closing

 

___ 13. Lender Will Prepare You Loan Documents And Send Them To Escrow

 

___ 14. You Sign Your Documents And Take Your Cash Into The Escrow Closing

___ 15. The Loan Documents Go Back To The Lender For Review (48-72 Hours)

___ 16. The Lender Calls Tile Company And Tells Them To Record The Deed

___ 17. The Money Is Wired Into Escrow And The Seller Is Paid

___ 18. You Receive Keys And Can Move In

___ 19. Recommend us to all your friends and coworkers!