We are reaching that time of the year again. It is almost the start of a new year and many will have buying a new home as a 2024 goal. The better prepared we are at the beginning of the process, the smoother things will go.
Steps to Homeownership
- Get Pre-approved with Gershman
- Find your dream home
- Start the mortgage process
- Enjoy making memories in your new space
Steps to Pre-approval
1) Complete an application: Before you start searching for a home, contact a qualified mortgage banker to begin the pre-approval process.
2) Provide documentation: With pre-approval, your loan officer or processor will request several documents that will be necessary to perform an extensive review of your financial background.
3) Pre-approval determination: Lenders look at many factors when determining a loan qualification. One of the most important elements is your credit score. Credit scores are simply a risk determination of possible default. The higher the score, the less likely someone is to default. Typically, with a higher credit comes better rates and terms on loans.
Once you have pre-approval and know your price range, it’s time to begin your home search! Whether you plan to stay in the same home for a few years or several decades, buying a home is an important decision! Your real estate agent will be a valuable advisor in the home-buying process. They will help you find your dream home and negotiate with the seller on your behalf.
Additionally, it’s essential to know what you hope to find in a home by creating a “wish list” – location, price range, home type, square feet, beds/baths, lot size, year built, amenities, etc.
Next, choose a mortgage! We know that each borrower’s situation is different. We offer a variety of loan programs so that we can help you find the best loan program that meets your financial needs and home ownership goals. Our loan programs include FHA, Conventional, USDA, VA, Jumbo & alternative options such as Down Payment Assistance, Builders Extended Rate Lock Program, Doctor/Dentist Programs, and First Time Home Buyers. Your Gershman Mortgage loan officer is available to answer any questions, comments, or concerns you may have regarding the mortgage process.
We want all our borrowers to know they are not alone in their home-buying journey. We promise to walk with you every step of the way until you close on your dream home! To get started, please contact Andy Schoemehl at 314-221-7797.