A step-by-step guide to buying a home, written in plain English by Theresa Rolen, The Huntress Home Loan Pro. Read ahead instead of reacting.
You don't need to become a mortgage expert. You just need to know what comes next.
Most buyers have been handed a pile of half-right advice by the time they start. This handbook puts the journey in order, so each step makes sense when you get to it. A short checklist to begin with:
Every buyer's path is a little different, and timing and requirements vary by loan program and by borrower. This is the general order of things.
Look at where you are financially and what you're trying to accomplish: your first home, a bigger home, a move closer to work. Your goals shape everything that follows, so this is the place to be honest with yourself.
Different buyers and situations call for different financing. Theresa compares programs against your goals and explains them side by side, so the choice is yours. New to the terms? Start with Mortgage Education.
Pre-qualification is an early look at your income, debts and credit, giving you a working price range. It's a starting point, not a commitment. Theresa will tell you which documents your loan program is likely to need, so you're gathering the right things at the right time.
With a range and a financing plan in hand, you can tour homes that fit your budget and your life. Keep in mind that the right payment for you may be lower than the most you could borrow.
Your agent helps you write the offer, and your pre-qualification shows the seller you've done your homework. Once an offer is accepted, the loan process begins in earnest.
You submit your full application with the documents requested. The property is appraised and title work begins. Then an underwriter reviews the loan against program guidelines and may ask follow-up questions. Answering quickly keeps things moving, and Theresa keeps you updated along the way.
You review your final figures, sign your documents and the loan funds. Closing timelines depend on the loan, the property and everyone involved, so Theresa will keep you posted on where things stand.
Unpack, settle in, and enjoy it. Keep your closing documents somewhere safe, and know that Theresa is still a phone call away if questions come up about your loan down the road.
Documentation is a normal part of every mortgage. It isn't a test. What you'll need depends on the loan program and your situation, and Theresa gives you a specific list up front rather than making you guess.
Theresa hosts free VA homebuyer seminars, in person and online, on various dates and times. They cover how VA entitlement works, buying with VA even if you've used it before, and why pulling your Certificate of Eligibility doesn't lock you into anything.
Write your own in the margins. No question is too basic.
No. Early conversations are often the most valuable, because there's still time to organize documents, address credit questions and plan for closing costs before you shop.
Pre-qualification is an early review of the information you share, giving you a working price range. Pre-approval goes further, with documentation reviewed and verified. Theresa will tell you which one your situation calls for and when.
No. Your COE is documentation of the benefit you earned. Requesting it doesn't lock you into a loan, a lender or a purchase.
Using the benefit before, or still owning another home, doesn't automatically rule you out. Your entitlement determines what's possible, and Theresa can walk you through how it works for you.
Kansas, Missouri, Nebraska, Arkansas, Tennessee, Texas and Washington.
Tell Theresa which chapter you're in and she'll help you with the next one, in plain language and at your pace.
(913) 705-0049