The Financing Process
Demystifying Home Loans
The home loan process can feel overwhelming. By collaborating with a trusted lender and remaining informed through every step of the process, from pre-approval to closing, you can have a significantly more comfortable experience. You’ll want to consult with a mortgage specialist (or two) to find a professional who you are confident will provide you with the best care.
To get an idea of what to expect, review the following home loan process steps.
Step One:
Get Pre-Approval
Before you start looking for a home to buy, it’s wise and proactive to meet with a lender to get pre-approved for a loan amount. Offers accompanied by a pre-approval letter are stronger and will stand out, especially when the seller is receiving multiple offers.
To gain pre-approval, your preferred lender will gather information about income, assets, and debts to help determine how much you can borrow. This includes gathering a credit report, W-2 forms, pay stubs, federal tax returns, and recent bank statements.
There are a variety of home loan programs offering different advantages depending on your unique needs and preferences. Your preferred lender can go over the specifics of each to ensure you find a loan option that best aligns with your needs.
Our Preferred Lender
Elizabeth Bernstein
Senior Loan Officer
Since 2018, Elizabeth Bernstein has been dedicated to helping clients navigate the mortgage process with ease
and confidence. Backed by over 35 years of combined experience on her team, she blends industry expertise with
a unique approach rooted in her background in human resources. Her time as an Executive HR leader at a Fortune
100 company equipped her with the skills to understand and connect with people on a personal level, tailoring
her approach to meet their needs and goals. This people-first & education-based philosophy is her
foundation—allowing her to advocate effectively for her clients, whether it's building rapport with listing
agents or ensuring their offers stand out in a competitive market.
Elizabeth prides herself on
connecting easily, communicating openly, and understanding how to support each client's journey. Beyond
offering great rates and an array of options, her goal is to empower clients with the education and confidence
to move forward in their home-buying process—not just as another borrower, but as a priority. When working
with Elizabeth, clients gain a partner committed to securing the best deal, the best terms, and ultimately,
the keys to their new home.
Estimate Your Monthly Payment
Estimate your mortgage payment, including the principal and interest, taxes, insurance, HOA, and Private Mortgage Insurance.
Price
Annual Tax
Loan Term (Years)
Down Payment %
Interest Rate %
Monthly HOA
Monthly Insurance
$3,198.20
Estimated Monthly Payment
Principal
$2,398.20
(75.0%)Taxes
$500.00
(15.6%)Private Mortgage Insurance (PMI)
$0.00
(0.0%)HOA
$100.00
(3.1%)Insurance
$200.00
(6.3%)
Step Two:
Find the best loan
Collaborating with a top-notch local loan officer will ensure you have access to competitive rates and programs that best fit your individual needs. Take the first step by completing this form to get connected today!
Step Three:
Application and processing
When you find the perfect property and your offer is accepted, your lender will help you complete a full mortgage loan application, discuss down payment options, and explain any related fees.
Then, your application is submitted for processing where the documents are reviewed. Your lender will also order a home appraisal and a property title search.
The next part of the application process involves sending everything to an underwriter who will review and approve the entire loan package to make sure it meets all compliance regulations.
It is not unusual to receive requests for additional documentation or clarification during this phase of the application process.
Step Four:
Signing and finalizing the deal
Once your loan is approved, you’ll need to set up homeowners insurance.
Your documents will be sent to the title company and the closing will be scheduled for you to sign the necessary paperwork and pay any additional costs to complete the purchase of your new home.
After the loan goes through the required recording process, the purchase is complete, and you officially own your new home!
