Welcome to the exciting journey of becoming a first-time homebuyer! Whether you're transitioning from renting or moving out of your childhood home, the prospect of owning your own home is filled with anticipation and questions.

To ease your concerns, we've compiled answers to some of the most common questions new homebuyers often have. But remember, you're not alone in this process—we're here to support you every step of the way.

What Comes First - the Home or the Loan?

It's a bit of both, actually. As you embark on your home search, having an idea of your budget is crucial. That's where a pre-qualification letter from reputable mortgage companies like Supreme Lending comes in handy. This letter provides an estimate of the maximum loan amount you might qualify for, helping you determine your purchase price range. While it's not a guarantee of approval, it's a valuable tool for guiding your search. Most real estate agents even request this letter before showing you potential homes, and we can provide it within 24 hours of your request.

What Should I Expect During the Home Loan Process?

Once you've found your dream home and signed a formal contract, the loan process begins. If you've already obtained a pre-qualification letter from the same mortgage company you're applying to, you'll save yourself some time.

During this process, you'll need to provide critical information to your lender, including recent pay stubs, prior tax returns, and bank statements. Your mortgage consultant will then submit your loan for approval, arrange for a home appraisal to confirm its value, and coordinate with the title company to ensure a clean title on the property.

Throughout the process, your mortgage consultant will keep you informed of any additional requirements or requests from the lender, and once approval is received, you'll review and sign the preliminary lending paperwork. From there, your mortgage consultant will work with you and your real estate agent to coordinate a settlement date.

How Long Does It Take to Get My First Home Loan?

The timeline for securing your first home loan typically ranges from 10 to 35 days, depending on various factors such as the complexity of the loan and your financial history. Obtaining a pre-qualification letter from the same mortgage company can help expedite the process.

Remember, we're here to guide you through every step of your home-buying journey. Don't hesitate to reach out if you have any questions or need assistance. Let's make your dream of homeownership a reality!

Ready to take the first step towards owning your first home? Fill out the intake form below, and one of us will contact you to schedule your initial buyer consultation!