The Home Loan Process

Dated: July 11 2022

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Tell Me About the Home Loan Process.


Are you avoiding purchasing a home like you avoid your annual visit with the dentist? Don’t lie!  Buying a home can seem intimidating, scary and overwhelming (much like the dentist), especially if you are a first-time home buyer!  Most first-time home buyers are uncertain where to start and even more so, what will be required of them through the process, and that makes it all unappealing!  Let me guide you and help take that fear away!!  It doesn't have to be intimidating, it should be fun and a relatively easy process as long as you have a great team guiding you in each step.


What’s first?  Find a mortgage professional or Realtor that you feel a great connection with, even if you meet with two or three before finding your connection. This process can feel a lot like speed dating.... when you know, you know!!  Once you have found ‘the One’ (mortgage professional or Realtor), they can connect you with a referral partner.  For example, if you connect with a Mortgage Broker and are confident they will guide you through the process and be available when needed all while answering your questions then you’ve knocked out step one.  This professional will be able to provide you with contacts for a few Realtor’s within their network that they believe you will have a great connection with!  Call all of them to be sure you are just as confident in your Realtor as you are with your Mortgage Broker!


What does the pre-approval process look like?


Your mortgage professional will be able to share a link with you to access an online application or can connect with you via phone to collect the necessary information.  For a pre-approval, you will need the following:

Proof of Income, (W-2’s, 1099’s, tax returns)

Proof of Assets (bank statements, investment account statements)

Good Credit (a credit score in most cases of 620 or higher)

Employment Verification (paystubs, income documentation)

Other Documentation (copy of your driver's license, social security number)


Once we are under contract what does the approval process look like?

After the pre-approval process you will work with both your Realtor and your mortgage professional to find the right home and secure a contract to purchase.  Once under contract (congrats by the way!!) your mortgage professional will submit your supplied documentation to underwriting for review.  During this time the home inspection will take place as well as the appraisal report will be ordered.  After the initial review through underwriting there will be some additional documentation requested of you.  It is normal for underwriting to ask for additional docs, they are ensuring you are able to repay your loan to the Lender (they are invested, literally!).  Once all documentation requested by underwriting has been reviewed and cleared your loan will be cleared to close!  Once your file is cleared to close, your mortgage professional will work to finalize all numbers for closing and prepare your file for closing day!  See, was that so hard?  As a Mortgage Broker myself, I do all that I can to be sure I take on more of the work than you do!


Purchasing a home does not have to be difficult, time consuming, scary and overwhelming, it should be fun, exciting, and hopefully easy.  Let the team you choose, your mortgage professional and Realtor, provide you with a great home buying experience!!


Follow me on Instagram @laupow_mortgagebroker and let’s find you the perfect home!!

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Callie Ammons

Hi, my name is Callie Ammons and I’m a Realtor in the stunning state of Colorado, specifically serving the Colorado Springs area. Growing up in a family with Realtor grandparents, a father who’s a....

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