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Purchasing
One of the primary components of the American Dream is home ownership. For most people, it is their most important decision and goal, surpassing all others. Monument Mortgage can help make that dream come true.
At Monument, we can help guide you home.
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Here are some steps that we will encounter along the way
Pre-qualification
Find out how much you qualify for. This is your first step to buying a home. Learn about whats involved with qualifying, do you meet guidelines, is your down payment acceptable and do you meet credit criteria. This will allow you to plan so that when you start your search you know what to expect and what price range you are in.
Pre-qual
Find a Real Estate Agent
Find a real estate agent that knows the area and who understands what you are looking for.
Finda Real estate agent
Find a Home
Research the area and research recent sales and what's on the market to get a better idea of prices. Compare what each home has compared to what you are looking for. Find the best match!
Find a Home
Make an Offer
Work with your Real Estate broker on making the best offer. Be sure to indicate any contingencies to the offer. There may be back and forth negotiation, before the final offer is accepted.
Make an Offer
Sign the Purchase and Sales Contract
Work with an attorney before signing this legally binding contract. Once reviewed, you will sign the agreement and typically an additional deposit is required.
Sign the P&S
Mortgage Application and Disclosures
Complete the mortgage application with your Loan Officer. You will be required to sign the application and varies federal and state disclosures.
Mortgag app and disclosures
Supporting Documents
Complete the mortgage application with your Loan Officer. You will be required to sign the application and varies federal and state disclosures.
Supporting Pieces
Underwriting and Approval
Once the processing of your file is complete, it is submitted to the investor for underwriting. The underwriter reviews the submitted file, to be sure it meets industry and/or investor guidelines. Once a decision is made for approval, a commitment letter is provided. This is a summary of the terms of the approval as well as any outstanding conditions. Any prior to closing conditions will need to be received and reviewed prior to setting up a closing.
Underwriting
Clear to Close & Closing Disclosure (CD)
Any conditions of the approval will need to be submitted and reviewed. Once completed, a clear to close will be issued and a preliminary CD will be issued. This must be done within 3 business days before closing.
CTC ad CD
Closing
Today is your closing day. You will be asked to sign the note, mortgage and many other state and federal documents. You will also bring the remaining balance due to satisfy the down payment, closing costs and any prepaid items.
Closing
Thinking of that dream home?
We can help with that! Give us a call or contact us below to start on your road to homeownership.
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