What happens after you've applied your loan?

Asked by Trulia Denver, Denver, CO Mon Apr 1, 2013

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Bill Donovan’s answer
Bill Donovan, Agent, Centennial, CO
Tue Apr 2, 2013

And you may need to supply various documents or answer some questions for the lender as you get closer to closing. For example: the current address for your 5th grade math teacher; how many apple pies will fit on a doghouse roof; your 1099 for your first paper route.

Don't sweat it. Your mortgage broker and Agent will get you through it.
1 vote
ryateslenders, Agent, Plano, TX
Sat Sep 28, 2013
You apply with another lender to make sure your getting the best deal, I can help you shop rates with a couple lenders in Denver.
0 votes
Robert McGui…, Agent, Denver, CO
Sat Apr 6, 2013
Trulia Denver,

After you apply for a loan the lender can give you a 'pre-qualification' for a certain amount. At that point the buyer can start searching for homes accordingly with their Buyer Agent. The lender will then do the verifications of the information that the buyer has given. Once the verifications are done as to income, credit report, bank accounts and tax statements he can then give the buyer a 'pre-approval' for a certain amount. The buyer will need the pre-approval letter to submit with the offer when he finds the 'right' home. When the offer is accepted, it becomes a contract. The next step is to do an inspection. Once the inspection items are resolved, the appraisal will be done. Then the lender and title company finish their processing and everyone looks forward to a successful closing.

Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246
0 votes
kenkopperson, Home Buyer, Denver, CO
Thu Apr 4, 2013
You guys do realize this isn't a real person asking this question right? Pay attention a little bit before pouncing on posters and putting your 15 line signatures begging for them to contact you. SMH
0 votes
Flag Thu Apr 4, 2013
Amy Watt, , Denver, CO
Tue Apr 2, 2013
I have a wonderful flowchart that will show you how things work. Please send me your email address and I will be happy to send it to you!

Amy Watt
Catalyst Lending
NMLS #257618
0 votes
DeLUX Team R…, Agent, Littleton, CO
Tue Apr 2, 2013
Call us 303 327-5898 and we will walk you through the buying process step by step.
You can learn more on our web site as well.
0 votes
, ,
Tue Apr 2, 2013
That really depends on what part of the transaction you are at. I have made a "Guide to purchasing a home" that will walk you through the process and what is needed and what to expect. If you would like a free copy let me know, as there is alot that goes into the process and this step-by-step guide will help you understand it all.
0 votes
Bill Pearson, Agent, Denver, CO
Tue Apr 2, 2013
Well many things...your job is to be as flexible as can be with the lender as they are providing you with the money so just get them which ever document they might need. Hopefully you have a great lender and they will explain the process to you and communicate well with you.

Best of luck on your transaction!

Bill Pearson GRI, SRES |"Your Denver Realtor For Life"
ERA Herman Group Real Estate| 201 Columbine Street| Suite 301| Denver CO 80206
720-329-1470 |Bill@DenverRealtorForLife.com
5280 Magazine FIVE STAR Real Estate Professional – 2010, 2011, 2012
0 votes
My NC Homes…, Agent, Chapel Hill, NC
Tue Apr 2, 2013
You lender will order an appraisal of the property and your loan package will be bundled together by the loan officer you've been dealing with and sent to underwriting for preliminary review. Underwriting may request some additional documentation, and if so the buyer should respond promptly. The buyers agent, lender and lawyer (or escrow agent) should be working together to coordinate things so that closing takes place on time and with a minimum of aggravation to the buyer.
0 votes
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