Steps to Get a Home Loan

Getting a mortgage can be an extremely confusing process.  AIM Financial outlines each step below:

  1. get pre qualified
  2. Receive pre approval letter
  3. Choose realtor
  4. View properties
  5. Make and negotiate offers
  6. Finalize deal
  7. Get inspection by licensed home inspector (usually within 10 days)
  8. Negotiate any repairs with seller
  9. When satisfied with inspection report move forward with full loan application
  10. Go on to AIM Financial site and input information under loan application
  11. Gather documents required under “documents required” on web site
  12. Receive email consent from lender
  13. Open email consent
  14. Receive application from AIM Financial
  15. Sign and return application
  16. Pay for and order the appraisal (price is deal specific)
  17. Receive appraisal and underwriter/client review
  18. Work through underwriter at lender to issue a “conditional approval”
  19. Provide documents to AIM / Underwriter that are required by lender in a timely manner
  20. Receive clear to close on file from underwriter
  21. Go on to lender website to acknowledge closing disclosure information
  22. Schedule closing date
  23. Go to loan closing at title company with a cashier’s check for amount given by AIM loan processor
  24. Close loan at title company and get occupancy per purchase agreement (realtor helps here)