Securing mortgage help early in the homebuying process is the best way to ensure a smooth and error-free closing. However, not everyone starts the process at the same place or needs the same level of assistance. Find out your next steps with our handy guide below.
Just Started Looking
- You've made the decision to start looking.
- You do not have a real estate agent.
- You're unsure of the first step to take.
There are many decisions you need to consider. Start by reviewing the mortgage process from the beginning.
Under Contract
- You've found your home.
- You've made an offer.
- You need to obtain financing to close the deal.
Time is of the essence. You'll need to proceed immediately with the mortgage application process.
Buying a Fixer-Upper
- You've found a deal on a Short Sale or Foreclosure.
- You plan to live in the home.
- Repairs exceed $5,0000.
The pre-approval process can Prove you're a qualified and serious buyer.
Buying a Condo
- Is the Condo FHA Approved?
- Do you have the Condo legal documents?
- Do you know the legal classification?
Condos and PUDs may require special processing.
Building a Home
- Your home won't be ready for more than 60 days.
- You want to lock in a good rate now.
- You may be selling an old home.
The mortgage process requires a slightly different time frame for new construction.
Seeking Pre-Approval
- You've narrowed your choices for a home.
- Multiple offers are pending.
- You want to make a strong offer.
The pre-approval process can prove you're a qualified and serious buyer.
Every financial situation is different. If is important to maximize your home buying success by relying on Paramount's experienced Mortgage Bankers.
Whether you are completely unfamiliar with the mortgage process, or you know what it is all about, we can lead you through the process.
New rules and improved regulations have made the mortgage process safer for consumers. Time frames have changed under increased regulatory oversight and it is prudent to talk with a Paramount Mortgage Banker sooner, rather than later, in the mortgage process.
