YOUR ROADMAP TO HOME FINANCING
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Congratulations! Congratulations on your new home purchase! We look forward to the opportunity to work with you to achieve your new home financing goals.
Completing Your Loan Application For a quick loan decision, provide all requested documents to your Loan Officer (LO) prior to or at your loan application meeting and be prepared to make a payment for your property appraisal. Also discuss your rate lock options and strategies with your LO.
Submitting for Loan Approval Once you have provided all
necessary documents, your LO will submit your loan application to our underwriting team to make a decision.
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Your Home Is Being Built Your homebuilder will let you know once they break ground on your home. They will also update your LO, who will contact you to discuss interest rates and lock options, if you have not already locked in your rate. They will also discuss our Hybrid eClosing option, if available, which can reduce the time spent at the closing table.
Getting the Approval Call! Your LO and Loan Processor (LP) will reach out to you when your loan is approved to review the required documents, answer any questions and explain next steps. Throughout the process it is important to let your LP know of any changes in employment, income, credit and/or source of down payment, as they can affect your loan approval.
Meet Your Settlement Agent NVR Settlement Services or our preferred partner will introduce themselves and begin the title examination and settlement preparation process.
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8 Prepare for Your Closing Within 3 to 10 days prior to closing, your LO will email you the Closing Disclosure, which provides the exact amount for you to wire to the Settlement Agent handling your closing. A re-verification of employment will be completed within 10 days of your closing.
It’s Closing Time!
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The Settlement Agent handling your closing will meet with you to sign your closing paperwork and give you your keys! Congratulations and Welcome Home!
Update Your Documents for Final Approval Your credit will be refreshed and appraisal ordered. All outstanding documentation, including updated asset and income statements, may be requested for the final submission to underwriting. You can finalize your homeowner’s insurance and provide a paid policy to your LP as we prepare for settlement—your homebuilder will email you your scheduled date and location for closing.
©2023 NVR, Inc. All Rights Reserved. For more information, contact your NVR Mortgage Loan Officer. NVR Mortgage Finance, Inc. NMLS ID# 1227
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