Process
Purchasing a home can (and should be) be a very exciting experience! At
Cherry Creek Mortgage Company, we're dedicated to providing you with the
support you need to make your home buying experience pleasurable…and
FUN!
Here's a quick list of the steps you'll go through as you move toward
your homeownership goal:
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Get Pre-Approved
- Get your mortgage FIRST to save time and money! Getting pre-approved
FIRST provides you with the security of knowing your loan is already
in place and provides you with a strong negotiating tool. With your
pre-approval in hand, sellers are more motivated to deal with a
buyer who is serious.
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Shop For a Home - After you know how much home you
can afford, you can work with your Realtor to outline your
'new home wish list' and create an action plan to find it.
Your Realtor will represent you exclusively, and work to get
you the best deal. He/she will be familiar with the market
in your area, and will save you time and money by helping
you refine your home search and only show you properties that
meet your specified criteria.
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| Select a Loan Product - There
are many different types of mortgage loans available to meet all kinds
of different financial needs. You'll work closely with your Loan Officer
to select a program that will help you meet your short term and long
term financial goals. |
| Obtain Final Loan Approval - Once you have found the perfect
house and made an offer to purchase it, the property will be appraised
and inspected. These steps help protect your interests in the property
by establishing an objective value for the property (so you know you're
paying a fair price) and highlight any items that may need to be repaired
or replaced because they present health and/or safety issues. During
the final approval process, we'll collect all the final information
we need to give you final loan approval. This typically includes title
work, a flood certification, and homeowners insurance information. |
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Close On Your New Home - At last…moving day! You'll
meet with the sellers to settle the transfer of property and close
the transaction. You'll provide a certified or cashier's check (payable
to yourself and ready to be endorsed to the title company). You'll
review the 'Settlement Statement' to confirm what you and the seller
owe each other, sign the mortgage note, and the seller will turn
over the 'deed' (denoting ownership in the property) and the keys
to you. Welcome home!
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