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What to Expect When Buying a Home

Loan Process

Prior to Loan Submission:

  1. Gather Documents from MLU checklist provided
  2. Get Pre-qualified
  3. Go over program and payment options and decide which loan program best suits your needs with long term and short term goals in mind
  4. Find a Property & Get Offer Accepted; Realtor to open escrow and title immediately so there are no delays
  5. Buyer to provide realtor info to MLU as well as updated bank statements and paystubs if needed
  6. MLU to contact realtor, get escrow information, purchase contract & earnest money deposit receipt ; Buyer to provide proof earnest money deposit cleared account

After Loan Submission

  1. Loan Gets Submitted & Appraisal Ordered
  2. Loan Is Approved With Conditions
  3. Need to Satisfy Conditions provided by lender
  4. Lender reviews & Lender Issues Clear to Close
  5. File Gets In Line For Loan Documents; Loan Documents Are Issued
  6. Buyer Signs all Loan Documents in front of Notary Public at MLU office
  7. Buyer Wires Money to Escrow per Wiring Instructions
  8. Escrow preps and sends signed docs to lender for Lender Review
  9. Loan Is Funded
  10. Loan Is Recorded

Wooohooo!!!!!!!!!!!!! Congrats You Are a Home Owner  J

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