At a Glance
Buying a home is a rewarding and exciting part of your life, however, the process of getting a mortgage can seem overwhelming. At Supreme Lending of Arizona, our experienced and diverse team of mortgage professionals are ready to make this journey a little easier. When choosing a mortgage lender, it’s important to find one that cares about their borrowers, offers products that fit your financial situation, and is committed to making sure you get the best home loan.
Getting pre-qualified for a mortgage is a quick and easy process. Via phone, email or internet, you will be asked for some basic information about yourself and — based on what you share — you can know whether you qualify for a mortgage.
Make an Offer
Now you have found the property you want and you are ready to make an offer. You must consider what sales price to offer, terms, seller concessions, earnest money, option fee, as well as closing and possession dates.
Acceptance of Offer
Acceptance occurs when all parties agree to the price and terms of the contract. At that time, the clock starts ticking to adhere to all details that are outlined in your transaction. It is important that this process moves along quickly. Once acceptance occurs, the next 25 days are filled with inspections, appraisals, and many other deadlines that you will need to meet to ensure a smooth closing.
At this stage of the loan process, you may experience the stress of deadlines. We’re here to make this process smooth and easy. After an underwriter has reviewed your file, they will approve and send it to the closing department. Loan approval is the full and final approval to get your property closed. One major factor that lenders consider when approving your loan is your credit score.Apply Online
Close, Fund & Move-In
Your real estate agent will coordinate the time and date convenient for you and the title company. As a buyer, you may want to close near the end of the month, so that you will minimize the number of days you must pay pre-paid interest. Funding occurs when all papers have been signed and all conditions have been met. Funding may occur on the day of the closing or on the next day. After funding, your real estate consultant will give you the keys to the property and you will officially own your new home. Congratulations!