6 Steps On Applying for a Mortgage For Your Biggest Buy Ever

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Buying a house can be stressful. For first-time homebuyers especially, there is a lot of uncertainty around applying for a mortgage.

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Understanding the process can decrease some of the stress of applying for a mortgage.

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Pre-Approval

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Property Under Contract

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Application

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Underwriting

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Having a clear understanding of the process and the bank’s requirements has the best chance of running smoothly.

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Swipe up to learn more

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6 Steps On Applying for a Mortgage For Your Biggest Buy Ever

Buying a house can be stressful. For first-time homebuyers especially, there is a lot of uncertainty around applying for a mortgage.

Understanding the process can decrease some of the stress of applying for a mortgage.

Pre-Approval

During the pre-approval, the loan officer will tell you the total loan amount you will qualify for.

Property Under Contract

The bank will need to consider the property you are buying.

Application

There is a good chance that you are going through a bank’s questionnaire and filling out details so that their software can fill out the form for you.

Underwriting

This is where the lender seeks to understand you and the property as a borrower and get comfortable giving you a loan.

Having a clear understanding of the process and the bank’s requirements has the best chance of running smoothly.

Swipe up to learn more