1: Knowing Your Options And Goals.
First, meet with your Senior Mortgage Advisor to select the loan program that best helps with your home buying goals. There are quite a few options out there. Your mortgage advisor will be your best resource during this step to narrow down your options and decide what loan products will be the most beneficial for your short and longterm goals.
Provident Lending Group offers the following loans to qualifying buyers:
If you find that you do not qualify for any of our loan programs, there’s no need to feel discouraged. Our Senior Mortgage Advisor would be happy to go over the areas of your requirements that are in need of improvement and offer suggestions for qualifying in the future. We value our clients for life and are always happy to help assist you as you work towards owning a home.
2: Approval and Meeting The Qualifications.
Once you have decided which loan program will fit your needs and help you achieve your goals, your Senior Mortgage Advisor will work with you to get your digital application started. They’ll help to ensure that you have the proper qualifications and documentation in order. Our mobile platform allows you the freedom to upload your documents from anywhere!
This step is one of the most important in the process because it requires you to organize and provide proof that you qualify for your desired loan program. To keep this process moving smoothly, be prepared to provide access to . . .
- Household income
- Documentation of current assets
- Notable outstanding debt
- Credit score
- Tax Forms
3: Work With Your Real Estate Agent.
This is the fun and exciting part of the homeownership process. It’s time to find the property that is right for you, your family, or your investments.
Keep your budget in mind along with notable amenities that you would like to see from the home before meeting with your real estate agent to discuss your options. This will help your agent adequately prepare listing options. If you are not already working with an agent, our Senior Mortgage Advisor would be happy to connect you with one of their trusted realtor partners in your area.
4: You’ve found your home! Ready To Make An Offer?
Have you found your dream home? It’s now time to make an initial offer on the property. Although the negotiation process can be tricky, your agent will be able to help guide you. Keeping an open mind should the situation change and sticking to your budget will help you stay on track to closing.
5: Just A Few More Things To Do Before Closing.
We know that you’re excited to close, but there are a few more important things on our “To Do List” that need to happen to help ensure a smooth and successful closing process.
Be prepared to. . .
- Get a home inspection.
- Get an appraisal.
- Get an underwriting approval
The closing day is here and it’s time to celebrate! Take good care while performing one final walkthrough of the home to ensure that everything still looks to be in good shape. Once you’re satisfied with the property, your loan officer will walk you through the closing process to ensure that all of your financial details are in order to prepare you for funding.
You will be asked to provide. . .
- A government-issued ID or driver’s license
- Available funds to cover any down payment needed or unpaid closing costs
7: Post-Closing and Loan Management.
Once you’ve moved into your new home, you can begin to maintain your monthly mortgage payments. You will be responsible for managing your monthly budget and making your payments in a timely manner. After some time has passed and you have put equity into the property, you may have the potential to adjust your monthly payment plan. If needed, you may consider refinancing and exploring what options are available from there. It’s always a great idea to reach out to your Senior Mortgage Advisor on your loan anniversary to go over your options and refresh your goals. In the meantime, if you ever find yourself having trouble making payments, please contact our team as soon as possible.
Buying a home can be one of the largest financial decisions an individual makes. It can be difficult to make sure that each decision you make is the right one. While we cannot promise that your homebuying process will go as smoothly the one we have outlined above, we can help make it as easy as possible.
Our team of Senior Mortgage Advisors here at Provident Lending Group have years of experience in the lending industry making home loans easy. We’re ready to work with you to help you find the loan that’s right for you. Contact us today or download our app to learn more about how we can help you achieve your dreams of homeownership.