A Step-by-Step Guide to the Mortgage Application Process
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Buying a new home is an exciting journey, and understanding the mortgage process can help you feel confident every step of the way. In this post, Stone Meadow Lending, our First America Homes preferred lender, is sharing a simple guide to walk you through it.
Step 1: Get Prequalified
Before you start searching for your dream home, get prequalified to ensure you’re looking within your approved price range. This will give you a clear idea of what you can afford and streamline the buying process.
Step 2: Go Over Mortgage Strategies with Your Loan Officer
Explore personalized mortgage solutions designed to support your long-term financial goals. Our team works closely with you to identify the right loan program - one that fits your needs today and sets you up for future success.
Step 3: Find Your Dream Home with Your Builder Sales Professional
With your prequalified price range in mind, search confidently for your perfect home. Your First America Homes sales consultant can help you find the right home that aligns with your lifestyle and budget.
Step 4: Get Paperwork in Order
Once you’ve selected your home and signed a purchase contract, your loan officer will provide you with a Loan Estimate (LE). This document outlines your loan terms, so review it carefully.
Step 5: Appraisal & Title Work
Your lender will order an appraisal to assess the home’s value and begin title work to ensure a clear title for your new home. These steps help prepare your loan for underwriting.
Step 6: Finalize Your Homeowners Insurance
Start shopping early for homeowners insurance so you can secure coverage before closing day. Having your policy ready will keep the process moving smoothly.
Step 7: Underwriting Approval
Once underwriting has reviewed and approved your loan, all documentation will be sent to the title company to prepare for closing.
Step 8: Get Ready for Closing
Your loan officer will send you a Closing Disclosure (CD) at least three business days before closing. This document includes your final loan terms, so double-check everything and reach out to your loan officer with any questions.
Step 9: Close on Your New Home
The big day is here! At closing, you’ll sign the final paperwork, pay any closing costs, and receive the keys to your new home. Congratulations—you’re officially a homeowner!
“The mortgage process doesn’t have to be intimidating. Working with a trusted lender who guides you through each step makes all the difference,” said Megan Teel, President of Stone Meadow Lending. “By getting prequalified, staying organized and asking questions, homebuyers can feel confident about securing the right loan for their new home.”
Ready to Take the First Step?
The mortgage application process may seem complex, but Stone Meadow Lending’s Loan Officers are here to help you every step of the way. Connect with us today and start your journey to homeownership!
*This information is meant as a guide to help streamline the loan process and should not be considered as requirements when buying a home. Because each borrower’s individual situation and needs vary, please contact your loan officer before undertaking these and any other actions that may affect your loan transaction.
Megan Teel, President
NMLS 323765
Stone Meadow Lending, LLC
Phone: 281-404-5577
24900 Pitkin Road, Suite 130, Spring, TX 77386
Company NMLS 2191063
Equal Housing Opportunity
