The Home Loan Process
Demystifying Home Loans
If you haven’t experienced it before, the home loan process can feel overwhelming, but I will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, I partner with some of the best lenders in the industry, and am happy to introduce you, so you’ll be taken care of.
Atlantic Bay Mortgage Group
Heather Todd
Sr. Mortgage Banker
-
638 Independence Parkway, Suite 250
Chesapeake, VA 23320 - Mobile: (757) 407-9110
- Office: (757) 819-0279
- Fax: (757) 213-1615
- HeatherTodd@atlanticbay.com
- www.atlanticbay.com/heathertodd
- Licensed in VA & NC
- NMLS # 119913
I recommend only the best mortgage professionals who will offer competitive rates and programs that fit your individual needs. Heather Todd and the team at Atlantic Bay Mortgage Group are the go-to lenders to aid in your quest for homeownership.
At Coastal Realty is not a mortgage lender and so you should contact Atlantic Bay Mortgage Group, L.L.C. directly to learn about its products and your eligibility for such products. The featured lender has an affiliated business relationship with At Coastal Realty. You are under no obligation to use the featured lender for financing. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend. Atlantic Bay Mortgage Group, L.L.C. NMLS #72043 (nmlsconsumeraccess.org) is an Equal Opportunity Lender. Located at 600 Lynnhaven Parkway Suite 203 Virginia Beach, VA 23452.
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Get Pre-Approval
Before you start looking for a home to buy, it’s a good idea to meet with your Loan Officer to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assets and debts of the borrower (you) to determine how much house you may be able to afford. This includes a credit report, W-2 forms, pay stubs, Federal Tax Returns and recent bank statements. There are a variety of different loan programs, so make sure to get pre-qualification for the specific programs that best suit your needs.
Helping You Get The Best Loan
Start The Process
I’ll help you find the best local loan officer to get you competitive rates and the programs that best fit your individual needs. Fill out this form and I’ll connect you with a lender today!
Application & Processing
What happens when a loan goes "live"
When you find property you’re ready to buy, your lender will help you complete a full mortgage loan application, and talk you through the various fees and down payment options. The application is submitted to processing, where the documents are reviewed and appraisals and title examination are ordered. Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance.
Closing
Signing and Finalizing the deal
Don’t be surprised if you’re asked for additional documentation or clarification throughout the process. Once your loan is approved, don’t forget to set up homeowners insurance. Your documents will be sent to the title company, where you’ll sign for the new home and pay any remaining costs. Then the loan is recorded and you get the keys. Congratulations, happy homeowner!
