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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