Irais Torres Buyer Guide

FINANCING OVERVIEW

The lender will obtain your credit report and preliminary financial information

Obtain a pre-approval letter from the lender

Once you are under contract for home purchase, you and your broker will provide the lender with the signed real estate contract and disclosures You will supply the lender with all of your detailed financial information, including the completed loan application, tax returns, bank statements and any other information requested by the lender

The lender will schedule an appraisal of the property, coordinated through the seller’s listing broker

The lender will request a condo questionnaire from the condominium association (if applicable), which will contain certain relevant information about your purchase A “clear to close” notification will be provided by the lender, which is an unconditional mortgage approval and the last step in the financing process!

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