September 25, 2020
September is National Mortgage Professionals Month and we want to say thanks to our amazing Spirit Mortgage team!
Our Spirit Mortgage team works exceptionally hard to make each home buying journey as easy as possible. However, not everyone understands the hard work that happens behind the scenes to lead up to that exciting day when you, the new homeowner, receive your keys!
Below is an overview of the process from start to finish:
First, you’ll meet with your loan officer who will assist you with getting pre-qualified, education about down payment assistance programs, special discounts and establishing which type of loan is best for you. They will work throughout the entire process to help you get the most out of your loan.
After you find your dream home, a team begins working behind the scenes to ensure your loan processes and closes on time. This team includes the mortgage processors, underwriters and closing processors.
-The mortgage processors are the individuals that serve as a go-between for the Loan Officers, title company, underwriters, and other departments involved in the loan process. From the moment an application is submitted, they are working diligently to review the loan for completeness and accuracy.
-The underwriting process means making sure you can afford the home you want to purchase, along with making sure the property is safe and habitable. During the underwriting phase, the loan is reviewed to make sure all the pieces are put together correctly to make sure the loan works well for both you and us.
-Then comes the closing process; once this is complete you become the legal owner of the home. This process entails making sure all the details and documents are accurate. This is when you are informed about the final closing costs for the home including loan amount, real estate taxes, insurance, recording fees, title fees and any other fees necessary.
We know the home buying process seems overwhelming, but our Spirit Mortgage team works extremely hard to make sure the process is nothing but smooth for you!