Mortgage Basics
first time home buyer Mortgage Basics Intro
first time home buyer Should I Buy a Home
first time home buyer How Mortgages Work
first time home buyer Factors that Effect Your Payment
first time home buyer Paperwork & Loan Fees
first time home buyer Loan Processing, Now What?
 
Insurance and inspection
Unique situations
Been Turn down for a loan
In conclusion
first time home buyer Atlas, Closing
Conclusion: Processing and Underwriting
Be on top of processing and you will get the loan you want faster
 

 

 
Find The Best Mortgage Rates
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After you apply for a mortgage and before you go to closing, the loan goes through the underwriting process. The lender will verify the information that you supplied about yourself and your finances, hire an appraiser, commission a title search, get title insurance, secure a flood certificate and get survey work done, if necessary.

If the underwriting process doesn't go your way -- in other words, if your loan application is denied -- you should find out what happened, get a second opinion and keep on shopping if the answer is still no.


 

<<Part 5c: Been Turned Down For a Loan

 
Mortgage Tip: 3 Reasons to Use a Real Estate Agent as a First Time Home Buyer

Why should you use a real estate agent as a first time home buyer? They have the professional knowledge and experience to find you the home you've always dreamed of. Don't end up settling for a home you don't hate. Here are some basic reasons why using a real estate agent as a first time home buyer is a good idea:

  1. Negotiation Skills - Great real estate agents know how to negotiate. They represent their clients in negotiation the home price, anything that needs to be addressed after the home inspection, closing details and the like. They have an impact on every aspect of your home buying process and using a real estate agent can mean saving thousands of dollars.
  2. Experience. Looking for a home and getting through the closing process the first time can be incredible intimidating. Real estate agents have the experience to guide you through this process and they have the knowledge of neighborhoods, homes or condos on the market and properties coming on the market that you should absolutely tap into.
  3. Resources. Finding a home inspector, a closing attorney or agent, a seller's attorney, an appraiser, a mortgage broker can all be arduous and painful. Your real estate agent will have contacts in all of these areas. You may find better mortgage rates online, but it doesn't hurt to explore all of your options and tap your real estate agent's network.
 
 
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