Buying a home is the single largest purchase and investment most of us will ever make. We've provided a few tools below to help you learn more about making this important decision. At some point in our lives, we all consider buying a home whether as a primary residence, second home or investment property.
Finding the Best Rate – Tools to help you make a decision
Understanding What Affects Your Interest Rate – Points to ponder about credit, property and more
The Difference Between Pre-Qualification and Pre-Approval – And the steps to get you there
Path to Homeownership - A tool designed to educate and assist customers interested in buying a home.
Camino a la Compra de una Casa - en Espanol
Below is a summary of the mortgage process:
1 - Homebuyer
- Contact loan originator for financing information
- Gather information needed for your application
- Begin the search for your new home
- Assists you in completing the loan application
- Discusses qualifying, monthly payments and monies needed for closing
- Explains various loan programs available and quotes interest rates
- Communicates documentation requirements
- Answers any questions you may have throughout the process of buying a home
- Communicates with you on items necessary for your loan closing
- Pre-underwrites and prepares loan for approval
- Works with all parties involved with the loan process
- Requests any additional documentation needed from you
- Works directly with loan originator and processor to approve your loan
- Renders final decision on your loan
- Assembles package for your closing day
- Sends package to the closing agent’s office
- Contacts you for your Home Owner’s insurance information
- Prepares Settlement Statement and emails to the processor for review
- Processor contacts you to review the settlement figures and cash for closing prior to closing
- Takes place at closing agent’s office
- Bring a certified check to closing and any other documentation required by lender or closing agent
- Bring Homeowner’s Insurance with paid receipt for one year
- CONGRATULATIONS on buying a new home!
Whatever your home financing needs, Regions Mortgage is here to help you every step of the way. Please locate a Regions Mortgage Loan Originator or give us a call today at 1-877-536-3286. We will be happy to assist you in selecting the right loan or answering any questions you may have about buying a home.
