The Home Loan Process
Demystifying Home Loans
If you haven’t experienced it before, the home loan process can feel overwhelming, but our agents will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, we partner with some of the best lenders in the industry, and we’d be happy to introduce you, so you’ll be taken care of.
Finance With
Prosperity Home Mortgage
Kim Cox
NMLS ID # 1617596
- (240) 447-9289
- 20 Chevy Chase Circle NW, Washington, DC 20015
Kim Cox (NMLSR ID: 1617596) is a Mortgage Consultant licensed in DC, MD, VA, and NC. She has a master’s degree in financial management with a background in financial analysis and real estate development. Kim is a Certified Mortgage Planning Specialist who carefully evaluates her client’s short and long-term goals before presenting loan options. Her goal is to help every client make the right decision, based on his or her unique situation. While Kim enjoys the excitement that comes with helping clients purchase a new home, especially first-time homebuyers, she also finds it rewarding to help people save money through refinancing.
In her free time, Kim enjoys traveling with friends and family and volunteering with organizations that focus on improving educational opportunities for children. She serves on the Membership and Economic Development Committees with the Gaithersburg Germantown Chamber of Commerce and as Vice President and membership chair for her BNI chapter.
In her free time, Kim enjoys traveling with friends and family and volunteering with organizations that focus on improving educational opportunities for children. She serves on the Membership and Economic Development Committees with the Gaithersburg Germantown Chamber of Commerce and as Vice President and membership chair for her BNI chapter.
Get Pre-Approval
Before you start looking for a home to buy, it’s a good idea to meet with your Loan Officer to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assets and debts of the borrower (you) to determine how much house you may be able to afford. This includes a credit report, W-2 forms, pay stubs, Federal Tax Returns and recent bank statements. There are a variety of different loan programs, so make sure to get pre-qualification for the specific programs that best suit your needs.
We Help You Get The Best Loan
Start The Process
We’ll help you find the best local loan officer to get you competitive rates and the programs that best fit your individual needs. Fill out this form and we’ll connect you with a lender today!
Application & Processing
What happens when a loan goes "live"
When you find property you’re ready to buy, your lender will help you complete a full mortgage loan application, and talk you through the various fees and down payment options. The application is submitted to processing, where the documents are reviewed and appraisals and title examination are ordered. Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance.
Closing
Signing and Finalizing the deal
Don’t be surprised if you’re asked for additional documentation or clarification throughout the process. Once your loan is approved, don’t forget to set up homeowners insurance. Your documents will be sent to the title company, where you’ll sign for the new home and pay any remaining costs. Then the loan is recorded and you get the keys. Congratulations, happy homeowner!
