You can do this over the phone or in person with me. I’ll ask questions that help me determine how much you may be eligible to borrow. |
You sign the loan application and contract, and disclose information about your financial situation. You’ll need to share everything up front to ensure the loan gets processed as smoothly as possible. |
By now, all your documents should be submitted, so when the appraisal comes in we can review everything, lock in the loan rate when the time is right, and submit a complete package to the underwriter.
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A professional appraiser will visit the home you wish to buy, evaluate its condition and assets, compare it to other home sales in the area, then determine its market value.
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An underwriter is the person responsible for comparing your documents with the guidelines of the loan you wish to obtain, and determining if you qualify for the loan. |
After reviewing your loan package, the underwriter may ask for additional or updated documents such as pay stubs or re-verification of employment. |