- shop for your loan
- interview real estate agents, mortgage brokers, lenders and other settlement service providers to find the best professionals for your loan and settlement needs
- be sure to read and understand everything before you sign anything
- accurately report your debts
- be honest about all sources of funds you will use to purchase your home
- be upfront about any credit problems you have or have had in the past
- be wary of unsolicited loan or refinance offers that you receive in the mail or through e-mail
- always pay your mortgage payment on time, even if you are having a dispute with your loan servicer
- if you are having problems paying your mortgage, contact your loan servicer immediately
The don't list
- do not sign blank documents
- do not overstate your income
- do not overstate your length of employment
- do not overstate your assets
- do not change your income tax returns
- do not list fake co - borrowers on your loan application
- do not provide false documentation or permit someone to provide false documents about you
Purchasing a home steps
- determine what you can afford
- find a real estate agent
- find a house and negotiate contract terms
- sop for your loan - compare multiple GFEs
- choose best loan for you
- loan originator processes loan
- have house inspected
- shop for other service providers(title agent, attorney, escrow agent)
- loan is approved
- get insurances and do final walk through
- go to settlement
- move in
This information was from First Internet Bank of Indiana
No comments:
Post a Comment