Buying a home is an exciting process however you must ensure you have the details worked out for your loan to secure the home of your dreams. Getting all the details worked out for financing ahead of time will make the entire process much more enjoyable and stress-free as moving forward.

Applying & Getting Pre-Approved for a Mortgage
Obtaining a home loan also referred to as a mortgage will start with getting in touch with a full spectrum lending company and speaking with a loan officer. Once in contact, you will begin to go over your finical goals such as monthly payment, overall outgoing budget compared to your income, and then your down payment if any is needed. After a brief conversation with your loan lender you will then fill out your loan application, the more detailed you can complete the application can prevent any future issues that may arise.
Once the loan officer has received or taken your full application it will then be reviewed, items reviewed are as follows: Credit, income, assets, you’re outgoing monthly obligations vs. your gross monthly income these are all factors in the ability to repay the mortgage once granted a full-term loan. After review, the loan officer will suggest the best mortgage program to fit your financial needs while explaining the details of the loan type including repayment structure and possible down payment if needed. This is the most important part to fully understand what programs and terms of the subject loan you entering into.
Once the loan program is chosen, it is now time to start collecting and gathering documentation, turning in all needed documentation is what will be used for review and validation to ensure the ability of repayment. You have now completed the process of applying for your mortgage to buy your new home!
Next, the file will go to processing for many orderings of the needed documentation to send the file to underwriting. Underwriting is the second review of all obtained documentation to ensure for a final time the accuracy and ability of repayment on loan.
Remember to always stay in good communication with your mortgage loan officer to ensure a timely and smooth transaction.