STEP ONE: CHOOSE YOUR HALLMARK LOAN OFFICER
The first step in the home buying process is picking your Hallmark Home Mortgage loan originator. Ask friends and family members for referrals. Your loan originator will lead you through the mortgage process.
STEP TWO: APPLY FOR A PRE-APPROVAL
Your Hallmark Home Mortgage loan originator will help you determine how much you can afford to spend on a home. They will identify the total amount of money they are willing to lend to you. A pre-approval signifies that your application information has been verified, your credit score confirmed, and it is a commitment from Hallmark to lend. This process grants much more credibility during the buying process and allows you to close quicker without credit surprises.
STEP THREE: CHOOSE A REAL ESTATE AGENT
The third step is finding a real estate agent you feel comfortable working with. Ask friends and family members for referrals, and talk with several before making a decision. The real estate agent will help navigate you through the steps buying your home.
STEP FOUR: SEARCH THE LISTINGS
Create a home wish list and then start searching the listings. Many times it is easier to first look at the home listings online and when you find a possible match contact your real estate agent and set a time for a tour or attend the open house. Tour many homes to find the perfect option for you and your family.
STEP FIVE: MAKE AN OFFER
Your real estate agent will help you through the steps in making an offer on a home in your area. Your offer may include contingencies, such as passing a home inspection. There will be a back and forth between the buyer and seller until both parties are happy with the outcome of the negotiations; your real estate agent will assist you through this process.
STEP SIX: GET FINAL MORTGAGE APPROVAL
Once your offer to purchase the home is accepted, you will work with your Hallmark loan originator to get the final approval of the home purchase and find out the date of your closing. During this process, it is very important to be aware of restrictions: for example do NOT make any large purchases or change jobs. Talk with your lender to receive the Do’s and Don’ts list of things to avoid during this time, so your prequalification isn’t put in jeopardy.
STEP SEVEN: DUE DILIGENCE
Follow up on all your contingencies made during your offer. Make sure the items found during your home inspection are taken care of at this time.
STEP EIGHT: HOME CLOSING
Once all of these steps are completed, it will be time to meet for the closing. During this meeting the deed to the home will be transferred from the seller to the buyer. After all the paper work is signed, you will receive the keys to your new home.