The Mortgage Process & What You’ll Need

Buying a new home is an exciting journey, but navigating the mortgage process can feel overwhelming for many. At Trusst Builder Group, we want to simplify the process and equip you with the knowledge you need to secure the home of your dreams. Here’s a breakdown of what to expect and what you’ll need to prepare.

Step 1: Pre-Approval

The first step in the mortgage process is getting pre-approved. This involves providing basic financial information to a lender, who will assess your creditworthiness and determine how much they will lend you. Pre-approval is critical because it gives you a clear budget and shows sellers that you’re a serious buyer.

What You’ll Need:

• Proof of income (pay stubs, tax returns, W-2s, or 1099s)
• Proof of assets (bank statements, investment accounts)
• Credit history (the lender will check your credit score and report)
• Identification (a government-issued ID)

Step 2: Choose Your Loan Type

There are various types of mortgage loans, including fixed-rate, adjustable-rate, FHA, VA, and USDA loans. Each has pros and cons depending on your financial situation and future plans. Your lender will guide you through selecting the best option for you.

Step 3: Submit a Loan Application

Once you’ve chosen a loan type, it’s time to submit a formal application. Your lender will ask for detailed documentation to verify your financial situation. This step may feel tedious, but it’s essential for securing the loan.

What You’ll Need:

• Employment verification
• Recent pay stubs and bank statements
• Tax returns from the past two years
• Details about other debts (student loans, credit cards, etc.)

Step 4: Underwriting

During underwriting, the lender reviews your application to ensure you meet all the requirements for the loan. They’ll evaluate your income, credit, and the property you’re purchasing.

Step 5: Loan Approval and Closing

Once underwriting is complete and the loan is approved, you’ll move on to the closing stage. You’ll sign the final paperwork at the closing meeting, pay any closing costs, and officially become a homeowner!

Helpful Tips for a Smooth Process

• Stay Organized: Keep all your documents in one place and respond promptly to lender requests.
• Maintain Your Credit: Avoid making major purchases or opening new lines of credit during the process.
• Ask Questions: Don’t hesitate to ask your lender for clarification if something isn’t clear.

At Trusst Builder Group, we’re here to support you every step of the way. Whether building your dream home or purchasing a move-in-ready property, understanding the mortgage process will make your journey smoother and more enjoyable. Ready to start your home-buying adventure? Contact us today!

For more tips and insights, visit our blog regularly.

Our mission is to make the home building and buying process enjoyable! Our entire professional team is ready to guide you to your new home! If you are ready to get started, explore our homes and communities with the links below or contact us directly for more information.

• See our Quick Move-In Homes
• View our Available Communities
• Explore Our Home Plans

To learn more or schedule an appointment, fill out this form, or contact: salesteam@trusstbuildergroup.com |  910-371-0304. 

Follow us for more tips and updates:

• Trusst on Instagram
• Trusst on Facebook
• Trusst on TikTok