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!
- 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.
- 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.
- 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.
- 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.
- 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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