Buying a Home – The Mortgage Process

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 when buying a home:

1 - Homebuyer
  • Contact loan originator for financing information
  • Gather information needed for your application
  • Begin the search for your new home

2 - Mortgage Loan Originator
  • 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

3 - Processor
  • 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

4 - Underwriter
  • Renders final decision on your loan
  • Requests any additional documentation needed from you
  • Works directly with loan originator and processor to approve your loan

5 - Closer
  • Assembles package for your closing day
  • Sends package to the closing agent’s office

6 - Closing Attorney
  • 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

7 - 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 and we will be happy to assist you in selecting the right loan or answering any questions you may have.

	Learn more about buying a home