The Mortgage Process: A Step-by-Step Guide for Homebuyers
Feeling a little lost in the mortgage process?
No worries You're not alone!
It is very common for clients to feel overwhelmed by getting a mortgage and not knowing where to start!
We make sure to guide our clients through the entire process, step-by-step, so they feel confident and secure in their decision to buy a home!
Are you ready to take that leap and start the process to get closer to your dream home? Then let’s do this!
1️⃣ Determine your budget. Think about your income, debts, and down payment. Remember to be realistic and make sure you can afford it. You don’t want to be in a sticky situation where you bite off more than you could chew.
2️⃣ Get pre-approved. Once you get that done, you’re ready to start the fun stuff, making offers on homes!
3️⃣ Choose a mortgage lender. Here at Engel & Völkers, we like to work with the best. Our in-house mortgage lender, Missouri Mortgage Solutions, will go through all the terms with you and figure out the best one for you!
4️⃣ Submit a mortgage application. This is the part where you wait. The underwriting is reviewing all your documents and once approved, you’ll receive more paperwork outlining the terms of the loan.
5️⃣ Attend closing! It’s finally time! You will sign the mortgage documents and pay closing costs during this time.
6️⃣ Start your new adventure in your dream home! All your hard work paid off! This is also when you’ll start making your monthly mortgage payments as well.
New things always seem intimating because you’ve never done them before and don’t know what to expect. We’ve done this a few times, so let us make this process for you as easy and stress-free as possible.
Have more questions? Message us here ⬇️
➡️ https://www.evstlouismo.com/contact
Check out homes listed in St Louis right now ⬇️
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