Your Guide to the Home Financing Process

So you’re ready to buy yourself a new home. But before you can start picking out the carpet and the color of your walls, you’ve got to get your finances in order. And unless you’re lucky enough to be paying in cash, you’ll need to get some help with financing. Here at Liberty Lending, we’re ready to help you with every step of the process. A good place to start? This step-by-step guide.

Step One: See What You Can Borrow

First, you’ve got to figure out not only what you need to borrow, but what you can borrow. Determining that maximum amount depends on a couple of key questions. Most importantly, how much of a monthly payment can you afford? This relates to your current monthly income. And second, how much will a lender lend you based on your credit, employment history, goal, income and debt? Our mortgage advisors will help you determine the right answers to make sure you get the most out of your loan.

Step Two: Mortgage Pre-Approval

After gathering all of the necessary information in step one, our mortgage advisors review everything with great detail. Once everything is cleared, you’ll get your incredibly valuable pre-qualification letter. When you’re pre-qualified, it gives you a new level of buying clout. Being pre-qualified makes it easier for any seller to know you’re serious about purchasing new property. And it means you’re one step close to moving where you want to go.

Step Three: Apply

Getting pre-qualified means it’s time to finally apply for your home loan. Our mortgage advisors will help you make sure your application is error-free, nailing down every important detail. Because now that you’ve made it this far, it’s important to make sure that you don’t encounter any roadblocks on the way to home ownership. After you’ve applied, we’ll contact the necessary parties to order an appraisal of your new home.

Step Four: Get Funded

It’s the most exciting step before actually moving in – getting the money you deserve. Together, your realtor and the property seller will find an escrow/title company to handle funding. From there, we’ll work with all of the appropriate parties to make sure everything is in order. Once you sign the papers, you can focus on really making that new house a home.

This might seem like a lot when you’re reading it all at once. And there’s not doubt that buying a new house isn’t a big deal. But that’s why here at Liberty Lending; we give you more than just a long list of steps to follow. With help from a personal mortgage advisor, you’ll have a trusted expert by your side during every step of the process. That’s because we have one unwavering commitment – to make sure you get the mortgage loan you deserve. After all of the hard work that you put into the rest of your life, it’s only fair that you have a partner that will make the home buying and lending process as easy as it can possibly be.

If you’re interested in working with one of our mortgage consultants, fill out our form or call (314) 336-9111 today.