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Breaking it Down: The Home Buying Process from Loan to Close

C4D Crew

When you’re ready to apply for a loan, make sure you get pre-approved first. Getting preapproved will allow you to start house hunting, knowing approximately how much of a loan you can get. A pre-approval letter states how much you’re approved for based on credit score, income, and other factors.

Loans 52
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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

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Buying a House in San Diego? Local Real Estate Agents Share 15 Tips First-Time Buyers Need to Know

Redfin

Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best. Work with that loan officer and their agent to understand what timeframes they’re comfortable with in an offer.

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How to Avoid a Delayed Closing: 7 Common Roadblocks to Be Aware of

Redfin

From appraisal issues to home inspection roadblocks, there’s a lot that can go awry before finally closing on your property. So how can you avoid a delayed closing? Be aware of these 7 common issues that could set back your closing date. Give your loan officer full disclosure from the start – tell us everything.

Closing 63
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Buyers’ Closing Costs: How Much, What They Are, and Ways to Save

HomeLight

After finding their dream home and signing the purchase contract , most buyers feel on top of the world … until they see the Loan Estimate or preliminary closing statement (if buying in cash). Did the closing costs for the buyer in particular catch you by surprise? Get Started What does a buyer pay in closing costs?

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Looking for a Mortgage Lender? Here Are 19 Questions to Ask Them Before You Commit

HomeLight

These are things you just might not know as a buyer — but your agent and loan officer can give you guidance! What type of home loans do you offer? There are several types of home loans out there, and you’ll want to ask any potential lender which ones they offer, as not all lenders support all loan types.

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What’s the First Step in Buying a Home? Your Answer Here

Realtor.com

monkeybusinessimages/iStock No, it’s not leaping into buyer mode by picking out a real estate agent who has pretty homes, setting up a home inspection, and then moving in your sectional couch. Step 2: Qualify for a home loan or loan pre-approval. Step 3: Learn how a loan officer can help.