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The Loan Process Made Easy: A Step-by-Step Guide to Homeownership

Are you ready to start on the journey of homeownership? Understanding the loan process is essential to ensure a smooth and successful transaction. Here’s a comprehensive guide from the Garza Home Team at RE/MAX North San Antonio to help you navigate the loan process with confidence.

  1. Pre-Qualification and Pre-Approval: Start by completing a loan application, either online or over the phone. Submit the necessary documentation to get pre-approved. The lender will review your information and explore financing options for you.
  2. Loan Consultation and Pre-Approval: Once pre-approved, the lender will schedule a phone consultation to discuss your loan options, approval status, and details. You’ll receive a Pre-Approval Letter, empowering you to confidently search for a home and submit offers.
  3. Locking in Your Loan: After finding your dream home and executing a contract, the lender will lock in your loan and interest rate. The lender’s Disclosure Team will provide your Loan Disclosures electronically, which you’ll need to DocuSign using your created account.
  4. Loan Processing: Your dedicated Loan Processor will guide you through the loan process, handling tasks such as processing your loan, submitting it for underwriting review, and requesting additional documents if necessary.
  5. Appraisal and Payment: With your permission, the lender will order an appraisal for the property. Once assigned, the lender will email you a payment link to cover the appraisal cost.
  6. Final Loan Approval: When the Underwriter clears all pending items, they will issue a final loan approval. At this stage, the lender won’t require further documentation from you. They’ll submit your loan packet to the closing department for finalizing the documents and figures.
  7. Closing Disclosure (CD): The closing department will email you the Closing Disclosure (CD) at least three days before the closing date. The CD includes the total cash required for closing and your final monthly payments. It’s crucial to promptly DocuSign this document to stay on track for closing.
  8. Closing Day: On the closing day, bring a Cashier’s Check payable to the Title Company or arrange to wire the required funds (confirm with the Title Company). Your Realtor will coordinate the closing appointment, which typically takes about an hour.
  9. Funding and Homeownership: Once the lender receives all the signed documents, they’ll authorize the Title Company to fund the loan. At this point, your loan has been funded and closed, and you officially become a homeowner!

Navigating the loan process can seem daunting, but with the assistance of an experienced real estate team like the Garza Home Team at RE/MAX North San Antonio, you can confidently make your homeownership dreams a reality. Contact us today for personalized guidance and support throughout the loan process.

Robert Joseph Ott

Sales Manager & Creative Director, REALTOR®

Jesse Rene Garza


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Matthew Ward | San Antonio, TX