10 Steps to Buying a Home In Maine
Financing Your Home - Step #6
Once your offer is accepted, it is time to finalize your financing! Since you got your pre-approval before looking for a home, you are on the right path. Now is the time to take the next step and get your formal loan application started! Your chosen lender will need a copy of the accepted Purchase & Sale contract to set the process in motion. They will also probably need a lot of additional information and documentation from you such as tax returns, copies of your paychecks and information about your debt. It is important to get the requested items to your mortgage officer in a timely manner to keep the mortgage process moving forward.
Your loan officer will verify the information you pr
ovided to them at your pre-approval, check your credit report and order the title work and appraisal. It is important to be cautious and not do anything that will change your financial situation until closing. Don't buy a new car, go on a shopping trip with your credit card, skip any scheduled payments or quit your job. A change in your finances can impact your eligibility for the mortgage.
ovided to them at your pre-approval, check your credit report and order the title work and appraisal. It is important to be cautious and not do anything that will change your financial situation until closing. Don't buy a new car, go on a shopping trip with your credit card, skip any scheduled payments or quit your job. A change in your finances can impact your eligibility for the mortgage. Photo by AMagill
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