Financing Your Home

The first step is to complete and submit a Pre-Qualification Request Form on our Preferred Lender’s website. A Loan Officer will review your financial information and pull your credit report to determine which loan programs are best for you and how much you are qualified to borrow.

You will need to provide:

 - Social Security Number (used to pull your credit report)

 - Most recent 30 days of paystubs

 - Year end paystubs for previous 2 years (only needed if paid hourly, make bonus, or have variable income)

 - Most recent two years of W2’s

 - Federal income tax returns and business tax returns (if self-employed)

 - Bank statements/investment account statements showing funds used for closing

 - Evidence of other assets such as stocks & bonds

 - Full two-year work history - contact name and address of employer to verify employment

*Note: Additional documentation may be required. Your Loan Officer will let you know exactly what is needed.

Once you are under contract for your new home, it is time to formally apply for financing. Your Loan Officer will process your application and let you know if there are additional documents or information needed to receive conditional approval from the underwriter. There may be conditions applied to the loan approval that need to be satisfied before closing on your loan. It is very important that any conditions be cleared in a timely manner to avoid delays in closing. 

During the construction of your new home, it is important that any changes in your financial status be communicated to your Loan Officer immediately. These would include a change or loss of employment, any change to your debt situation and any life changes.

*Note: During this time, it’s advised not to make any major purchases without consulting with your Loan Officer. This includes vehicles, furniture, or any other changes to your debt such as opening new credit cards.

As your new home nears completion, final loan approval is needed prior to closing. This will require pulling updated credit if the current credit report has expired (credit reports are good for 120 days) and updated income and asset documents will be needed. Your Loan Officer will work with you to determine the best time to lock your mortgage rate. An appraisal and title work will be ordered by the Loan Processor. Your loan will be submitted to Underwriting for final approval and additional documentation and disclosures may be requested. Once the Underwriting department has approved all documents you will receive a “Clear to Close”. 

In the days prior to settlement, you will be sent all the documentation about your loan, including the Closing Disclosure. You must review, sign and return the paperwork a minimum of three days before your settlement date. The Settlement Agent (Title Company or Closing Attorney) will provide instructions for settlement day and the total amount of money you will need to close on your home.

On the day of settlement, you will meet with your Settlement Agent to sign all the necessary documents. Closing funds need to be paid with a cashier’s check or wire transfer.

Be sure to bring the following items to closing:

 - 2 forms of ID including at least one Photo ID

 - A checkbook, in the event of any last-minute minor adjustments