Whether you are an experienced homebuyer or buying your first home, the process can be overwhelming. We’ve highlighted 15 steps in the home buying process to prepare you for this exciting step in your life.
You’ll meet with an Ideal Lending Loan Officer to discuss loan options and help you determine the right loan choice for your situation and financial goals
Ideal Lending issues your pre-approval and you start looking for a home with a real estate agent
3. SEARCH FOR YOUR HOME
You search for your home. It is suggested to use a real estate agent, as they can help guide you in your search and negotiate the property price.
4. MAKE AN OFFER
Once you find your dream home, your real estate agent presents an offer. Once the offer is accepted, a closing date is set.
You review and sign your contact with your real estate agent
Any remaining documents are required at this time. Once the contract has been submitted to Ideal Lending, the loan goes into processing.
7. APPRAISAL & INSPECTION
Ideal Lending orders appraisal, title report, insurance binder, and other necessary documents. A home inspection takes place to determine any repairs needed.
Receives and reviews all the documents, verifies all information and prepares the file for underwriting.
The loan is conditionally approved or declined and the underwriter asks for conditions. Homebuyer provides conditions.
10. HOMEOWNERS INSURANCE
A copy of the property appraisal and mortgagee clause must be provided to secure homeowners insurance policy.
11. CLEAR TO CLOSE
Final approval is issued and any final conditions are collected and satisfied. Loan is clear to close, closing documents are sent to the title company.
12. CLOSING SCHEDULED
It’s time to schedule the closing! You and your Realtor will be notified that your loan is clear to close and a closing date is scheduled.
13. FINAL WALKTHROUGH
Borrowers complete one final walk-through of the property to approve the condition of the home.
All parties sign the closing documents to finalize the purchase of your home.
15. IT’S MOVING TIME!
You’ve closed on your home and it’s time to move in. After closing, we will send you a customer satisfaction survey. We appreciate your participation and referrals.
*A pre-approval does not constitute a loan com-commitment or guarantee of a loan. Pre-approval is subject to a satisfactory appraisal, satisfactory title search, and no meaningful change to the borrower’s financial condition.