Home buying is exciting, but also can be a lot of work. There are a lot of factors in play when thinking about purchasing a home, from location, how many bedrooms, finding a realtor, mortgage broker and lawyer.
Within all of this there is some documents and information needed as well. In order to apply for a mortgage we need to be able to figure out your income and your down payment.It can sometimes seem like a lot so here are a couple of tips for organizing:
- Set up a place where you can have all the documents go. This could be an accordion file folder labelled with each item or simply a inbox on your desk where it gets placed and ready to go.
- For any letters you need, ask employers/family for them now, as sometimes they need a bit more than a days notice to pull together a letter.
- Print off our Mortgage documents checklist and keep it with your paperwork, checking off items as you have them.
With this check list you can now begin to pull together all of your documents and start the four steps to getting a new mortgage below.
Step 1: Apply
Step 2: Processing
I will then be in touch to review your application and discuss your specific needs before getting you approved for your mortgage financing.
Step 3: Acceptance
When your loan is approved, I will send you your approval and a list of required documents. The checklist above is a great start ahead of time. The approval must be signed and returned along with any other required documents.
Step 4: Funding
Once your loan is complete you will need to meet with your lawyer to finalize and register your loan.
From there, find and move into your new home and enjoy the fruit of your hard work!