Home Buying Process
Special programs available to:
Teachers, Faculty, Coaches, Librarians, Nurses, Secretaries, Custodial/Facilities Staff, School/District Leadership, Professors, Adjunct Faculty, Counselors, any ISD/Higher EDU/Private EDU employee.
Get Pre-Qualified
- An Educator Mortgage Lender will need information about your residential history, employment, income, and credit when getting prequalified.
- Once we’ve reviewed your information, we send out a couple of documents to you that allow us to issue a pre-qualification.
- We will set you up for our automatic emails so you know where your loan is at throughout the whole process!
Find a Home and Go Under-Contract
- We know you probably won’t be purchasing a home during business hours, so be sure to contact your Educator Mortgage Banker with questions during your house-hunting, we are available 24/7.
- Once you find a home, your real estate agent will draw up a contract and submit an offer to purchase the home.
- After negotiations, you are under contract! Now you will need to gather your documents for the loan process.
Inspection & Appraisal
- A home inspection is an important aspect of the process; this will tell you the condition of the home.
- Appraisals are necessary to determine the value of the home. We request an appraisal from a 3rd party certified appraiser that’s local to you.
- A payment for an appraisal allows us to reserve an appointment, and move towards getting your loan approved.
Underwriting
- Once we receive your income, tax, and credit documents we will submit your loan to underwriting.
- Underwriting is verifying all of the information you and your banker provided.
- An Underwriter may request additional documents depending on the guidelines of your loan.
Closing
- This is the home-stretch of your mortgage – your closing!
- We will take care of any last minute details for your loan and schedule your closing.
- You will sign your final loan documents and get the keys to your new home!