Understanding Home Buying: The Mortgage Process

Published on Jan 27, 2015

The main steps of purchasing a home are actually very simple. First, you want to get a preapproval letter from your mortgage company so you know how much you qualify for. The next step is finding the right real estate agent who can lead you to the home that aligns with all your goals. After finding your perfect home, you’ll be ready to make an offer on the house. Once that offer is accepted, a purchase agreement is drafted and signed by both the buyer and seller. Now that everything is signed and turned into your lender, the underwriting process begins. To avoid any mistakes during the underwriting process, be sure to have all the proper documentation (e.g. tax returns, pay stubs, w-2s, and bank statements) verified. For more tips and advice on buying your first home make sure you visit our website at http://www.QuickenLoans.com/Blog

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