Home Buying Process

Many people believe you need a 20% down payment to buy a home. There are loans available that allow buyers to put down as little as 3% or 0% with a VA or USDA loan, check out our mortgage loan calculator for an estimate amortzation schedule and call us so we can help you understand all the mortgage options available to you.

Your credit score is a numeric representation of your history and ability to pay back debts. Your credit score can have a big impact on the loans and interest rates that you can qualify for. We can guide you through the process of the do’s and don’ts on what to do to help your credit score and can actively work with you to improve your score to get you the best possible mortgage for you.

Choose a good Realtor. A knowledgeable Realtor is your most valuable asset when finding a home. Take this step seriously by asking friends and neighbors for referrals and do online research on the agents. A Realtor will help you through each step of the home buying process. We are more than happy to provide a recommendation for a local Realtor for you to help you

Gather documents. You’ll need tax returns, financial statements, pay stubs, W-2’s and bank statements.

Provide us with all the above documents so we can review all financial information and tell you the amount you qualify for and the estimated closing costs within a matter of minutes. We will provide you a pre-approval letter to prove your buying potential to sellers. You’ll need this before making an offer.

This is the fun part! Make a list of your favorite homes to share with your REALTOR.

Your agent will help you with how much you want to offer for the home of your choice. Stand out from all the other offers with your pre-approval letter from Elite Mortgage.

Once your offer is accepted, schedule a home inspection as soon as possible to help you ensure there are no hidden issues with the home. If major issues come up during inspection, this will be the opportunity to have them addressed by the seller or you may renegotiate a lower price to cover the costs of making the repairs after purchase.

Elite Mortgage will order an appraisal for you once you have come to an agreement on the items that need to be addressed from the home inspection. In some cases, home appraisals can be waived. Talk with Elite Mortgage to see what your options may be.

Elite Mortgage can get you a clear to close on average in 15 days or less. With the clear to close, all that is left is to sign the closing documents and you will be on your way to move in day!

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Home Buying Process