Planning to Purchase
So, you have your down payment, and now are ready to buy a home. Congratulations! Buying a home is a big step, and that is why we have a 10-point plan to buy smart.
- You will work with an Invis mortgage professional for expert advice and access to hundreds of mortgage options.
- Your Mortgage Professional will help you determine your purchasing power so you know how much house you can afford. With the help of an experienced realtor, you can shop around and find your dream home. Once you have found that, you are now ready to put an offer on the beautiful home. If you are putting a deposit down, it will become part of your down payment.
- The offer will be subject to financing, allowing enough time for your mortgage professional to finalize the mortgage.
- You will gather the documents that will go with the application to the lender. The lender may request an appraisal of the home.
- You will get a commitment from a lender with your mortgage details and any conditions that you need to meet. Once all conditions are satisfied and the mortgage is approved, they can waive the financing condition.
- Your mortgage professional will then remind you not to make any significant changes to your income or debts before getting possession of your home.
- You will then sign a mortgage commitment and provide any outstanding documents that can be sent in by email.
- It is time to turn the process over to the lawyer that your mortgage professional has recommended or that you have chosen.
- Approximately a week before the house becomes yours, you will meet with the lawyer to provide identification and a bank track for the remaining down payment and to sign and review all documents. You will also need to get home insurance in place because it is required by their lender.
- Finally, it is the big day!! The lawyer will look after the exchange of funds. Then the keys are given to you and you will take possession of your new home. You should always stay in touch with your mortgage professional so you can get tips on how to manage your mortgage and to save money.