Buying a house can be confusing! And most people only purchase a house a few times in their life... you don't have to feel stuck!

My goal is for you to feel comfortable and confident when buying a home and going through the mortgage process.

During the mortgage process, you'll run into 8 key steps:

1. Complete Application: You'll fill out a client questionnaire and submit documents to verify your income and assets. You'll receive a preapproval up to a certain purchase price so you know exactly the homes you can afford when you shop.

2. In Process: The loan originator or processor might ask for a couple more documents. The goal is to make your loan file as clean as possible before submitting to an underwriter. Also, you'll receive disclosures that detail every aspect and cost of your loan.

3. Appraisal: The appraisal is ordered and paid for up front (usually around $500). The appraiser will schedule a time to inspect the property and give their valuation. You'll receive a copy of the appraisal once it's complete.

4. Underwriting: An experienced underwriter will view your loan file and make sure that it meets federal guidelines for whatever mortgage type you're applying for.

5. Loan Approval: The underwriter will issue a "conditional approval". Essentially, this means that the loan is approved as long as a few conditions are met. This is completely normal. Mainly, conditions are things like a completed appraisal, satisfactory homeowner's insurance, and any missing documents the underwriter needs.

6. Closing Disclosure: The Closing Disclosure will detail the features and costs of your loan, just like the Loan Estimate, but the Closing Disclosure will have more accurate fees. The initial Closing Disclosure is still an estimate, but the title company will issue a final Closing Disclosure that has the exact fees.

7. Clear To Close: Once all conditions are met and the Closing Disclosure is signed, the underwriter will issue a clear to close! This means that everything is fully complete with the loan. Take a breath! Closing will get scheduled.

8. Loan Funded: After you sign the final closing documents, you're a homeowner! You'll get the keys and the rights to the property!

Buying a house is so much easier and enjoyable when you understand what's going on in the process.

My goal is to ensure that you are confident and comfortable during the entire process.

If you have any questions, or would like a copy of the mortgage process PDF, you can contact me at:

https://www.winthehouseyoulove.com/

0:00 What To Expect During The Mortgage Process
0:26 Mortgage Process
0:38 Complete Application
1:43 Loan process
2:05 Appraisal
2:31 Underwriting
4:29 Conditional Approval
5:08 Closing Disclosure
5:44 Clear to close
6:00 Loan Funded

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