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Ready to Buy a Home?

Let’s talk about the next steps…

It’s rare that home buyers have the funds to buy a home outright. Mortgage loans are a very important piece of the home buying puzzle, but they can often seem like the most complicated part. It’s important to work with a trusted mortgage lender like Wright-Patt Credit Union who will make sure the mortgage loan process goes smoothly, both today and in the future. Follow these steps and you’ll be on your way!

  1. Find a lender. You can choose to get a loan from a direct lender or mortgage broker. What’s the difference? Direct lenders like WPCU have money on-hand to lend. All of the paperwork and processing are handled by the direct lender. A mortgage broker shops for loans with multiple lenders and the loan is passed to the lender you select. Brokers receive commission from other lenders.
  2. Get pre-approved. Pre-approval can help you determine how much you can afford to spend on a home, and may also be useful in negotiations once you find one you want to purchase. You’ll need to present information about your income, assets, loans, and other financial details.
  3. Find the perfect home. Once you’ve received your pre-approval letter and selected a real estate agent, you can start your home search. Let your agent know which features are important in your home and keep your target price range in mind.
  4. Make an offer. When you’ve found a home you want to purchase, your real estate agent can help you understand the offer process and negotiate the terms of the sale.
  5. Finalize your loan. When your final offer has been accepted you’ll need to complete a few final steps. Your mortgage loan originator will re-check your financial information, and an appraisal will be completed for the property. After a title search and inspection, it’s time to close!

For more information on the mortgage loan process, visit our Wright 4 You Mortgage website.

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