The Home Loan Process
Demystifying Home Loans
If you haven’t experienced it before, the home loan process can feel overwhelming, but our agents will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, we partner with some of the best lenders in the industry, and we’d be happy to introduce you, so you’ll be taken care of.
Get Pre-Approval
Before you start looking for a home to buy, it’s a good idea to meet with your Loan Officer to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assets and debts of the borrower (you) to determine how much house you may be able to afford. This includes a credit report, W-2 forms, pay stubs, Federal Tax Returns and recent bank statements. There are a variety of different loan programs, so make sure to get pre-qualification for the specific programs that best suit your needs.
All loans subject to credit approval. Rates and fees subject to change. @2022 PrimeLending, a PlainsCapital Company (PrimeLending). (NMLS: 13649) Equal Housing Lender. PrimeLending is a wholly owned subsidiary of a state chartered bank and is an exempt lender in ID. V010918
The Wirshing Team | PrimeLending
Amy Wirshing
PrimeLending has been perfecting the home loan process since 1986. At PrimeLending, we’re your lending partner. We’re a people-first company driven by the belief that getting a mortgage can be an exciting beginning and positive experience. That’s why we’re focused on making the home loan process simple and stress-free. We are able to lend in most states, and offer a wide range of products to fit all different needs.
The Wirshing’s Team goal is to make our clients feel like family, because they are! As you make the largest financial decisions of your life, we’re here to guide you through the process and make it as stress-free as possible. A mortgage isn’t “just” a mortgage, it’s part of your entire financial picture, and we want to make sure you’re picking exactly the right loan that’s right for you and your goals.
PrimeLending offers diverse product options with competitive rates and fees, making it an easy choice to partner with us as you accomplish your real estate goals. We look forward to working with you, and helping you get HOME!
GET STARTEDApplication & Processing
What happens when a loan goes "live"
When you find property you’re ready to buy, your lender will help you complete a full mortgage loan application, and talk you through the various fees and down payment options. The application is submitted to processing, where the documents are reviewed and appraisals and title examination are ordered. Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance.
Closing
Signing and Finalizing the deal
Don’t be surprised if you’re asked for additional documentation or clarification throughout the process. Once your loan is approved, don’t forget to set up homeowners insurance. Your documents will be sent to the title company, where you’ll sign for the new home and pay any remaining costs. Then the loan is recorded and you get the keys. Congratulations, happy homeowner!
