4 Steps to buying a Home
1
Get Pre- Approved
Fill out the Home Purchase Qualifier application to start your pre-approval. One of our mortgage advisors will contact you to help finalize your application and issue you a pre-qualification letter based on your qualifications and your budget. With that letter you are now ready to go shop and buy a new home.
2
Shop With a Realtor
Once you have your Pre- Approval, you can now begin working with a local real estate agent to get access to visiting homes that fit your goals, and budget. Your real estate agent will help push your offer once you find a home you are interested in and will help negotiate the best terms for you.
3
Loan Underwriting
Once you have found a home and have a signed a contract we will work with satisfying and coordinating underwriting requirements which include: Confirming income, assets, title search, appraisals, locking your rate, home owners insurance, and other disclosure requirements.
4
Closing
Dream Cap Loans, your lender, and your closing agent of choice (Usually the title company) will prepare all the documents needed for your closing. Typically you can expect to pay around 3% for closing costs (Sometimes if may be more). At closing day the lender will agree to fund the loan and will sign the loan documents. Upon signing you will get the key to your new home.
Do IÂ Qualify?
To qualify for a mortgage, lenders typically require that you have a debt-to-income ratio of “43/49.” This means that no more than 43% of your total monthly income (from all sources, before taxes) can go toward your new mortgage payment, and no more than 49.99% of your monthly income can go toward your total monthly debt (including your mortgage payment). VA and FHA loans even allow for higher debt ratios on a case by case basis.
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Mortgage Home Purchase Loans without the Hassle!
Need financing options on a home, or other real estate? Choosing a purchase loan product that matches your goals and making sure you get the best rate for your given scenario can feel like playing whack-a-mole.We’re here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with a FREE pre-approval letter request.We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.
The Home Purchase Loan Process
Easy and Convenient
Here’s how our home purchase loan process works:
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Complete our simple mortgage pre-approval letter request
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Receive options based on your unique criteria and scenario
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Compare mortgage interest rates and terms
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Choose the offer that best fits your needs
Credit Assessment
What You’ll Be Getting
Whether you’re buying your first home or looking for a new property, there’s lots of stress and complications involved in mortgages and financing. That’s where I come in. I help my clients with all their Credit Assessment needs so they can enjoy the fun and excitement of buying real estate knowing they’re in good hands.