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Purchase Timeline

MORTGAGE FINDER

STEP 2: Keep Going!

STEP 2: Keep Going!

STEP 3: Almost There!

Your Guide Through The Home Buying Process

Buying a home can be confusing for anyone, especially when it’s their first time. We want to make the process as easy to understand as possible, so we outlined the steps you will go through with both your Realtor and Loan Officer as well as the documentation we will need from you each step of the way. Your Loan Officer is always readily available to answer any questions you might have.

*Processing times may vary depending on the clients best efforts to provide the necessary documentation in a prompt manner to allow us to complete the processes on a timely basis

Click Above to View Details About Each Step

This list is meant to be a general guideline to help you understand what to expect. Your loan officer will guide you through each step of the process in greater detail.

Required Documents:

Documents and Information that will be required from you in order to complete the step.

Your Tasks:

What you’ll need to be doing during this step of the process.

Our Tasks:

What we’ll be working on while you await the next step.

Pre-Qualifying Details

Required Documents:

  • Paystubs - most recent 30 days of earnings
  • W2 and Tax Returns - 1-2 years (all schedules)
  • Asset Statements - 2 months

Your Tasks:

Complete an application in order to obtain your approval letter & provide requested information

Our Tasks:

  • Review credit, income, and assets for pre-qualification
  • Provide You a required documentation list

Processing 1 Details

Required Documents:

  • Fully executed Purchase and Sale Agreement
  • Proof of Ernest Money Deposit
  • Letter of Explanation

Your Tasks:

Provide requested docs

Our Tasks:

  • Send initial disclosures
  • Order title, appraisal, transcripts, & verifications
  • Review documents to submit to underwriting

Underwriting Details

Our Tasks:

During this stage the underwriter reviews all documentation submitted, conditions for any additional or missing items, decisions the loan, and reviews/signs-off all conditions.

Processing 2 Details

Required Documents:

As required on approval

Your Tasks:

Provide conditions and Hazard Insurance Policies

Our Tasks:

  • Gather all conditions & verifications & work with underwriting to clear conditions
  • Issue Commitment letter & Closing Disclosure
  • Deliver copy of appraisal upon receipt

Closing Details

Required Documents:

  • Funds for closing
  • Valid identification

Your Tasks:

  • Provide funds for closing
  • Meet with closing agent to sign final paperwork

Our Tasks:

  • Schedule loan closing with title company
  • Provide mortgage funds
  • Fund loan to finalize transaction
*Processing times may vary depending on the clients best efforts to provide the necessary documentation in a prompt manner to allow us to complete the processes on a timely basis

Pre-Qualifying Details

Required Documents:

  • Paystubs - most recent 30 days of earnings
  • W2 and Tax Returns - 1-2 years (all schedules)
  • Asset Statements - 2 months

Your Tasks:

Complete an application in order to obtain your approval letter & provide requested information

Our Tasks:

  • Review credit, income, and assets for pre-qualification
  • Provide You a required documentation list

Processing 1 Details

Required Documents:

  • Fully executed Purchase and Sale Agreement
  • Proof of Ernest Money Deposit
  • Letter of Explanation

Your Tasks:

Provide requested docs

Our Tasks:

  • Send initial disclosures
  • Order title, appraisal, transcripts, & verifications
  • Review documents to submit to underwriting

Underwriting Details

Our Tasks:

During this stage the underwriter reviews all documentation submitted, conditions for any additional or missing items, decisions the loan, and reviews/signs-off all conditions.

Processing 2 Details

Required Documents:

As required on approval

Your Tasks:

Provide conditions and Hazard Insurance Policies

Our Tasks:

  • Gather all conditions & verifications & work with underwriting to clear conditions
  • Issue Commitment letter & Closing Disclosure
  • Deliver copy of appraisal upon receipt

Closing Details

Required Documents:

  • Funds for closing
  • Valid identification

Your Tasks:

  • Provide funds for closing
  • Meet with closing agent to sign final paperwork

Our Tasks:

  • Schedule loan closing with title company
  • Provide mortgage funds
  • Fund loan to finalize transaction
Homeward Residential Inc. is not currently licensed to originate mortgage loans in Massachusetts, New York, Utah, and Virginia.