How Much Can You Afford?

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