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The Mortgage Process Is Easier Than You Think

Getting a mortgage is a daunting task. It can seem very complicated and is the most stressful thing about buying a new home. Sometimes, one of the biggest sources of stress is the worry over whether or not you will have the credit to get the mortgage you need.

But, there are steps you can take to reduce the stress and make the process much easier to handle. Let's take a look at the mortgage process and how our preferred lenders can make it a more relaxed experience for you.

When you look for a mortgage, lenders will follow these steps:

  1. Getting Pre-Approval: A pre-approval means you're a serious buyer. It also means you're ready to move quickly if you find a property you like. You should have this prior to searching for a new home so you know your buying power and you demonstrate your ability and desire to buy the home you want. A pre-approval can happen quickly. Your mortgage lender will run a credit report for all three credit bureaus which will show your credit scores and history.
  2. Finding a House: You may have started looking for houses before pre-approval. Many people do. But it's always a good idea to have your pre-approval in hand just in case you see a house that you want to make an offer on. Once you make an offer, you're ready for the next step. The pre-approval will almost always be required in this competitive market.
  3. Applying for a Mortgage: Your mortgage lender will ask you for information including your employment history, income history, and any debt you may owe. Be prepared that they will most likely have follow up questions as they collect the information they need to process your mortgage.
  4. Processing the Loan: Once your mortgage lender has collected all the necessary information, they will give you a loan estimate. If you accept the estimate, the loan will be processed.
  5. Underwriting: Mortgage underwriters make the big decisions about the loan. They will carefully check all aspects of the mortgage application and make their decision. Most often, they will need you to clarify previous provided information, or even ask for more. Again, this is normal and is to be expected.
  6. Approval: You should receive Conditional Underwriting Approval, which typically means you are ready to lock in the interest rate and terms for your mortgage loan.
  7. Closing: Once your loan is approved, you will set a closing date. At the closing, you sign the loan documentation, which then gets sent to the County and is recorded. Once your loan is funded and recorded, you get the keys to your new home.

How Our Trusted Lenders Make It Easy for You

Engaging in the mortgage process is a difficult and stressful endeavor. You want to make sure that you choose a mortgage lender you can trust and that explains things thoroughly. Conner Homes partners with preferred lenders who can guide you in the process. We have established long-term relationships with these lenders because of their expertise and commitment to customer satisfaction.

Our preferred lenders, Wells Fargo Home Mortgage, Homebridge Financial Services, Inc., and Caliber Home Loans are trusted lenders dedicated to their customers. They will provide you with complimentary consultations and pre-approvals onsite, online, or over the phone. They will also carefully advise you through each step of the mortgage process so that your mortgage experience is low-stress and easy to understand. They even have special incentives just for Conner Homes homebuyers.

Visit our Financing page for more information about our preferred lenders and how they find mortgage solutions that work for you.