Arranging Your Loan
The first items you'll need to address are selecting a lender and completing a mortgage application. Plan to accomplish this within seven business days of signing your purchase agreement. Take the completed purchase agreement with you when you first visit your lender.
Working with a preferred lender
Classic Homes offers you the advantage of working with one of our preferred lenders. The benefits include:
- Established lines of communication.
- Loan officer's familiarity with our processes and paperwork.
- Our lender's commitment to being ready to close on time.
Whether you work with one of our preferred lenders or another mortgage company of your own choosing, your lender's job is to understand your particular financial circumstances completely. You will review all information on the application at your meeting with the loan officer.
A situation rarely arises that your loan officer has not encountered in the past. Do not hesitate to discuss any questions you have regarding your assets, income, or credit. By providing complete information, you prevent delays or extra trips to deliver documents.
In this section
- Preparation — the checklist of documents and information you'll need to gather before applying.
- Loan Application Paperwork — the verification forms, loan estimate, credit report, and appraisal.
- Loan Underwriting — what to expect during approval, including contingencies.
- Loan Lock and Closing — when to lock your rate and what to avoid between approval and closing.
- Worksheets — down payment and monthly payment estimators.