CHECK YOUR CREDIT

The higher the better. For mortgage purposes, the ideal score is 760 and will insure that you get the best interest rate and lowest mortgage insurance (if any) for your loan. If your score is low don't lose hope, there are programs like FHA that will take a 580 score. If there's time, we also have programs and services in place to help improve your score. 

GET PRE-APPROVED

There are 3 levels of the pre-approval process: 1) pre-qualify 2) pre-approved 3) pre-underwritten. When you work with us we don't leave anything to chances. We push all of our files all the way to the pre-underwritten stage to make sure our chance to close is 99%. We'll give the seller absolute certainty that we'll close on the home.

PICK YOUR LENDER

Shop at least 3 lenders. We recommend a traditional bank, a credit union and a mortgage broker like us. Pick your team early and stick with them. We're not solo loan officers trying to do it all. We work as a team to be as efficient and effective as possible to get you to the finish line. We'll pick up your call even on Sunday night.

PICK YOUR REAL ESTATE AGENT 

You want someone you know, like and trust. Real Estate is about communication and speed. How competent and knowledgeable the agent is and how fast he/she picks up and return your call. Text / call us and we'll tell you what we're all about.

SEARCH FOR A HOME 

Depending on the state of the market, look for a home 25k-50k lower than what your max offer will be. Most sellers want the highest and best offer so you'll need a good margin to have the best chance to get your offer accepted. 

MAKE THE OFFER

That's where we shine. As your realtor and loan officer we know exactly how to make the numbers work in your favor and have confidence in the terms and price we'll offer. When speed is of the essence and stress is high, you want someone who knows your case inside out.

OFFER ACCEPTED 

At this point we've done the hardest part and locked the home under contract. In most cases you should get the keys to your new home in less than 21 days. 

0 - 3: Loan Estimate & Total Cost

3 - 10 days: Inspection & Appraisal

10 - 17: Clearing loan conditions

17 - 21: Closing / Recording

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LOAN ESTIMATE

You will receive your initial loan estimate within 3 days of getting in contract. All the fees including 3rd parties fees such as lender, title, taxes, appraisal, insurance etc will be listed there. They are a good faith estimates as to how much it will cost you to purchase the home. Closing cost are about 2-4% of the purchase price and on top of your down payment. 

SEND EARNEST DEPOSIT TO ESCROW / TITLE

It's usually 1% of the purchase price and should be sent / wire to escrow within 3 days. That money counts towards your total down payment and depending on the terms of the contract it is usually refundable should you change your mind and not to go through with the house. 

INSPECTION / APPRAISAL

Inspection is optional but always recommended. Appraisal is a guarantee to the lender that the home is worth a certain amount. Your approximate costs are: 

Full Inspection: ~$1000

- General Inspection (~$600)

- Termite (~$150)

- Roof (~$150)

- Sewer (~$100)

Appraisal: ~$800

REMOVE CONTINGENCIES

Depending on the terms of the contract, we'll have a certain period of time to do and clear inspection, appraisal and loan contingencies. Removing a contingency means we've reviewed the report and agree with the findings. If you want to negotiate some terms it must be done before removing the contingency and its the due date.

FINALIZE YOUR LOAN

Lender will verify current employment, require updated paystub, most recent bank statement among other things. We'll help you secure homeowner insurance as well and submit all docs to the Lender.

IMPORTANT: Don't open new credit card, make big purchases or change job (or lose job) during that time. 

CLOSING DISCLOSURE 

If we negotiated sellers' credits for repairs, agreed on a lower price, improved credit score and got a better rate or any change of circumstance that affects the cost of buying the home, it will be reflected on the closing disclosure. It's not uncommon to rebalance the loan estimate multiple times while in escrow. Your final closing disclosure with exact numbers will be given to you no later than 3 business days before we can close on a home. 

SIGNING FINAL DOCS

Once final numbers are out, we'll schedule an in-person signing doc with a mobile notary at the comfort of your home to go over all the documents one last time and also take your fingerprints. This usually takes about 20 minutes. 

SEND CLOSING FUNDS TO TITLE / ESCROW

The same way you sent the initial deposit, you'll have to send the final balance also known as Cash to Close to Title to close on the home. Title will collect all the money and pay out the seller and all the parties according to the terms of the contract. 

CLOSING / RECORDING

The next business day, Title will record you as the new official owner of the home with the county. You're ready to move in.

CONGRATULATIONS!

You just received the keys to your new home. Don't forget to change all the locks in your home, update your mailing address with USPS, utilities and internet cable. Enjoy!