Key Players in Your Homebuying Process
Buying a home is a lengthy and sometimes intimidating process. Thankfully, you won't have to go it alone. There are plenty of housing professionals who are dedicated to helping you through every step of purchasing your new house. From your first offer to the moment you get the keys, there are plenty of people who ensure that each part of the process goes smoothly.
Real Estate Agent
Before you can even begin thinking about the realities of purchasing a home, your real estate agent is there to help you find your dream home in the first place. A real estate agent will help you find homes in the area, and your agent is also there to deal with the seller's agent, make a compelling offer, and help you get the house quickly.
Once you've found your next home, the next step is to go through the process of paying for it. This is where the loan officer comes in. This individual represents a mortgage lender and serves to walk you through the process of applying for a mortgage. They can answer all your questions about your mortgage: what loans you qualify for, what financial status you have, how much you will have to pay each month, and more.
An underwriter is there to check your financial profile and make sure that you can truly afford your mortgage. It is their job to determine whether you can make your payments consistently or not. If they decide that the risk is too great for the lender, they may deny your mortgage or require a greater down payment.
Have you ever looked at purchasing a product and wondered if it was really worth its asking price? That's an appraiser's job. An appraiser is an unbiased, completely third-party individual who assesses your home to assess that it is really worth the price it's being sold for. If they find a discrepancy between the home's value and its selling price, then the price might be adjusted, or different down payment may be required.
If all the financials are approved, then the final thing left is to transfer the title of the home to you officially. The title agency researches the home to make sure that it is legal to sell it to you. Once it is determined that the home can be sold, they oversee the closing process and handle the official documentation and title processing.
Once you've worked with all the individuals above, the home is officially yours. Your loan servicer is your point of contact for all updates and information about your mortgage from this point onward. They can provide you with all the information you need about your mortgage, including payments, payoffs, and any other general questions you might have.
Why Big Life Home Loan Group?
Buying a home is a long and sometimes convoluted process, but at Big Life Home Loan Group, we make it easy. Our team of professionals is experienced in helping homebuyers navigate the many people and processes that go into buying a home.
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To learn more about the many services we offer for all stages of the home buying process, don't hesitate to contact us and get connected with one of our industry experts.