After counseling, if you’ve decided to move forward, you’ll choose a lender and submit your application to them. The application includes some personal information, and a financial assessment will be conducted to make sure you’ll be able to afford ongoing expanses like property taxes and insurance and home maintenance.
Loan Processing & Underwriting
Your home will be appraised by an independent appraiser to determine the value. Then the appraisal and loan package will be sent to an underwriter for review and approval. The underwriter will make sure all the information in the package is correct and compliant with all laws and regulations.