Wisconsin First Time Home Buyer Illinois First Time Home Buyers
Posted by madisonmortgage on November 15th, 2009
Wisconsin First Time Home Buyer Illinois First Time Home Buyers Mortgage Loans:
Visit http://www.madisonmortgageguys.com for all first time home buyer and other mortgage programs:
Where Should I Start?
Contact us to obtain a free pre-approval for a Wisconsin or Illinois mortgage loan that is best for you.
What do I need to bring with me to get pre-qualified for a Wisconsin or Illinois mortgage?
If you have everything with you when you visit us, you’ll save a good deal of time. You should bring: your last two paystubs, last two years w2’s, copies of your checking and savings account statements for the past 2 months and evidence of other assets, like 401K or stocks.
When do I lock in my interest rate?
You have a choice of either locking in on a rate when you find a properly or float up to two days before closing.Once I am pre-approved
What’s next?
Find yourself a realtor. You can request referrals from your loan officer or find a local realtor in your area. Once you have found the house you have been looking for, it is time to secure financing.
What happens next?
We will process and underwrite your mortgage loan. At this time we are required to mail out a Good Faith Estimate of closing costs and a Truth-In-Lending. When the loan is approved, one of the mortgage processors will contact you to let you know.
How long will the loan process take?
Usually this process will take a couple days to a few weeks, depending on the type of loan you apply for. Government loans, including FHA loans, VA loans and Rural Housing loans, tend to take longer than conventional conforming loans.
Once I am approved, what do I do next?
Contact your realtor to let them know that you have been approved. Your realtor should know who your lender is and start scheduling for a closing. Also, at this time you should start looking for an insurance agent to secure homeowners insurance.
So what will happen at the closing?
Basically you will sit at a table with your realtor, broker, the sellers and a closing agent from the title company. The closing agent will have loan document papers for you to sign. The closing agent will then give you a basic explanation of each paper, you may take time to read each one. Be sure to consult your loan officer to make sure you know exactly what you’re signing or you may have an attorney present.
Don’t hesitate to ask questions!
Wisconsin and Illinois first time home buyer programs that we offer can be found on our website http://www.madisonmortgageguys.com/
Contact me today for a free pre-approval:
Dennis Hardy
Toll Free: (877) 240-5810 x104
dennis.hardy@madisonmortgageguys.com
http://www.madisonmortgageguys.com/
Visit my blog at http://www.madisonmortgageguys.com/blog/
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