- Trust & Wealth
- Real Estate
Once the buyer and seller accept the terms of the offer and sign the paperwork, you have an executed contract. Now it’s time to apply for a mortgage.
After the contract is signed, the clock starts ticking for everything documented in the contract, including mortgage application, inspections, and closing date.
Take a copy of the contract to your loan officer to officially submit the mortgage application. You will need to decide which mortgage to select prior to the application.
Here is a list of the 10 documents you may need to provide as you go through the mortgage application approval process:
Plan for the following potential fees:
Once you have approval for your loan, make sure you don’t change anything that will impact the status of your mortgage. Banks do a final check on credit and jobs just prior to closing, so now is not the time to change jobs or make another purchase on credit such as a car or furniture.
At Arthur State Bank, our mortgage loan officers are available to guide you every step of the way with mortgage information personalized for your situation.
These are the seventh and eight steps in the First Time Home Buyer’s Road Map.
Be sure to review the entire road map.