There are certain steps that you must take into account when you are going to buy a house for the first time, please see below the mortgage loan process steps:
Step 1: Get your Pre-Approval Letter
Know how much the Bank will approve you, talk to your Loan Officer to obtain your Pre-Approval Letter.
Step 2: Look for Properties
Go out to look for properties with your Real Estate Agent and make the best offer for the property that you like the most.
Step 3: Under Contract
You are now under Contract, congrats! In this step, we will start your Mortgage Loan Application.
Step 4: Appraisal & Home Inspections
Lender will request an appraisal of the property. In addition, Buyer should carry out a Home Inspection to know the real conditions and be able to get the best Hazard Insurance quotes.
Step 5: Closing Table
Working on the final conditions till to get the Clear to Close. Finally reaching the closing day and signing the documents to become a Homeowner. We did it, CONGRATULATIONS!
As a Loan Officer, I can advise and guide you all the way to the house of your dreams. If you are thinking of buying or refinancing a property in Miami, Florida, you can call me or write me through our Contact page, and I will be ready to provide you with Financial Advice totally free.