The Financing Process
Here’s an easy way to understand the financial steps you’ll need to take to guide you towards
your new home.
• Calculate your budget
• Apply for a mortgage/paperwork/loan application
• Lender begins processing application
• Lender provides booklet of estimated closing and related costs
• Lending institution request an appraisal of home, a credit report and verification of employment and assets
• Estimate of you loan costs in form of initial Truth in Lending Disclosure Statement
• Lender evaluates the application and approves the loan
• Search begins- Realtor show you multiple listings
• You find the house you want
• You make an offer
• Lender disburses funds to closing agent
• Sign closing documents and loan is funded
• Appropriate documents recorded at county recorder’s office
• The home is sold and it is yours