What is the Process of Getting a Home Loan?
Everyone’s journey to homeownership is different. The typical steps to getting a home loan include:
- Consider getting pre-approved for a mortgage loan.
- Find a home you want to buy and begin the mortgage process.
- Submit requested financial documents.
- Complete closing and sign your mortgage documents.
- Accept the keys and enjoy homeownership!
It’s important to note that once you begin the home-buying process, you should avoid changing jobs or requesting additional credit (such as an auto loan, credit card, or other forms of financing). These things can impact your credit score, which is one of the most significant factors influencing a lender’s decision to approve you for a mortgage.
Learn more about how to buy a home in our blog, 10 Steps for First-time Homebuyers: The Home Buying Process.