If you’re like most people, purchasing a home is probably one of the biggest investments you’ll ever make in your lifetime. If you’re considering buying a home, you’re likely aware of the complexity of the endeavor. Because of the numerous factors to consider when purchasing a home, it’s important to prepare as best you can. At Smart Mortgage Centers, Inc., we are dedicated to finding the loan that fits your individual needs.  We make a complex situation simple, don’t worry the Smart team has your back!

1. Pre-Approval

During your pre-approval consultation, we’ll review your credit report and financials for loan approval, borrowers will know what they can afford, their monthly payment and what funds will be needed at closing if any. We request your documents up front, to thoroughly and efficiently process your approval.

2. Offer Accepted

At this stage we’ll also get you eligible for our exclusive “Offer Accepted” and connect you with an expert Realtor® to help you find the home of your dreams, win the offer, and navigate the waters of negotiations, inspections, and closing.

3. Get Into Contract

Let the fun begin, you are now ready to start looking a homes. Knowing this is a large investment, look until you find the perfect home.  Having your pre-approval letter handy allows for the sellers to know you are a serious buyer when it is time to make an offer.

4. Contact Us

When you’re offer has been accepted by the seller, call, email or text your assigned Smart Mortgage Consultant. From there, we’ll set up your loan scenario to match your contract.

5. Application Disclosures

We will review your updated loan approval and loan estimate (“LE”) based on the terms of your contract, inform you of any documents we need updated, have you sign your application disclosures, and submit your loan to underwriting. We also order your appraisal, title work and insurance, while your Realtor® has your home inspection completed.

6. Underwriting

Your loan comes back from underwriting, and we’ll usually have a few “conditions” we need you to provide or update, including getting the appraisal. We then submit all your conditions back to underwriting to get your final “clear-to-close”, which we typically get in less than 21 days from when you sign your application. We then prepare your closing documents to send to the title company closing your transaction, which we typically have completed 5-7 calendar days prior to your contract closing date.

7. Closing

You did it! Your closing day is typically a happy one. You’ll usually spend about 60 minutes signing your final paperwork at a title company. The money for your loan is wired from our lender to the title company after you sign the closing documents, and you get your keys. You move in. You invite us to your housewarming party. We become friends. You refer your family, friends, co-workers, and new neighbors to us. Life is good.