What to expect throughout the home loan process

Do you have questions about the loan process for purchasing a home? Our friends at VanDyk Mortgage have helped both you and I out by simplifying the process into a handful of simple steps so you'll know what to expect.

1. APPLICATION

There are generally 3 ways to apply. You can apply online, over the phone with the loan originator, or in person.  I've enjoyed working with TJ, Leith, and Adam at VanDyk. Some documents are requested in this first step.

2. PRE-APPROVAL

Once you are pre-approved, you are ready to search for homes with me. The pre-approval step lets you and I know what price range of homes you should be looking at and dreaming about so we can walk through the homes that are a good fit for you.

3. LOAN SUBMISSION

Once the offer you and I proposed for your desired new home is accepted, your loan package will be sent to you for signatures. After that all documents are submitted to underwriting for approval. The underwriting process is when your creditworthiness is assessed by determining your assets and your ability to repay the loan. An appraisal will be ordered on the home and employment verification will be needed.

4. CONDITIONAL APPROVED

Congratulations, underwriting has reviewed and conditionally approved your loan based on the receipt of additional documentation.

5. FINAL APPROVAL

The mortgage closing department reviews all the materials for settlement and sends them to the title company.

6.CLOSING

A title company prepares your documents. You review and sign all of them to finalize the transaction and you become a home owner.

There you go, just like that. The folks at VanDyk Mortgage have worked many of my loans. They have made amazing things happen for quite a few of my clients. I have been so impressed with their professionalism, communication, success rate, and their friendly personal interactions with both myself and the clients we are helping. I enjoy working with them and I think you will as well. Let us work together to help you get into the home of your dreams. Give me a call at 801-631-3430 or TJ at 801-381-7513.

Brought to you by Heath @ HeathsHomes.com