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We have simplified the home buying process into three easy steps below.
Once we receive your web application authorizing us to pull a mortgage credit report and proof of your income, we can provide you with a prequalification letter to present to the seller. This will inform the seller that you would qualify for the mortgage loan to buy the home. Providing a prequalification letter is sometimes required by a seller when placing the offer. It also may assist in the acceptance of an offer.
The credit report and the income documentation are the main factors used in preparing a prequalification letter.
If you have been prequalified and have not found a home yet, the next step would be to start looking for your new home. Once your offer is accepted you/your agent can send us the purchase agreement. We will then set an appointment to meet with the loan officer to review the loan documents.
If you already had an accepted offer, we will need the purchase agreement so we can prepare your loan documents and set your appointment.
Any additional items needed will be requested to assist with the processing of the file.
The required items needed will then be ordered. Once they are received, the processing is completed and the file will be reviewed by underwriting. Once we have a clear to close, the closing will be scheduled.
Final step – you move into your new HOME!
Choosing a home is one of the biggest decisions you will make during your life. Everyone knows the most important thing about choosing a home is location, location, location. Although location is important, there are several other things to consider. The following is a list of items that could be considered:
After considering these important things, you need to think about what you want in a home. We have found the best way to do this is for the participating new homeowners to make a list of what they want. These lists then need to be combined and prioritized. To simplify this process we have developed the document below to help you.
Once you have found your home, you need to contact us to find out what your loan payments will be based on the home’s address. We will provide you detailed information of the loan options available to you. This will give you important information as you work to finalize the purchase contract. Once the contract is signed, you are just one step away from moving into your new home.
i3 Bank has made closing your loan easy. By completing the simple steps outlined below, you will be in your dream home quickly and easily:
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