A Step-by-Step Guide to the Mortgage Application Process

Securing a mortgage involves multiple stages, from the initial application to closing on your new home. Here’s what to expect throughout the process:

1. Preparation & Pre-Qualification

Assess Your Budget: Review your income, expenses, and debts to determine how much home you can afford.
Check Your Credit: Review your credit score and address any potential issues that could impact your loan approval.
Pre-Qualification: Treasury Funds Home Loans, Inc. can help you assess your financial standing and determine your loan eligibility.

2. Choosing a Lender & Getting Pre-Approved

Obtain Pre-Approval: A pre-approval letter from Treasury Funds Home Loans, Inc. strengthens your position when making an offer on a property.

3. Finding a Home & Making an Offer

Property Search: Work with a real estate agent to find a home within your budget.
Submit an Offer: Once you find the right home, make an offer and negotiate terms with the seller.

4. Submitting a Mortgage Application

Complete Your Application: Submit a formal mortgage application with Treasury Funds Home Loans, Inc., providing details about your financial situation, employment, and the property.

5. Loan Processing & Appraisal

Document Review: The lender verifies your financial documents, including income statements, tax returns, and credit history.
Property Appraisal: The lender orders an appraisal to confirm the home’s market value and ensure it aligns with the loan amount.

6. Underwriting & Loan Approval

Underwriting Review: The underwriter evaluates your financial profile to determine loan eligibility. Additional documents may be requested.
Final Loan Approval: Once underwriting is complete, you receive official loan approval.

7. Pre-Closing Preparations

Closing Disclosure: Review the final loan terms, closing costs, and other key details.
Home Inspection: Conduct a home inspection to identify any necessary repairs.
Secure Homeowners Insurance: This is typically required before closing.

8. Closing the Loan

Final Walk-Through: Ensure the property is in the expected condition before closing.
Signing & Payment: Sign all required documents and pay closing costs and the down payment.

9. Post-Closing & Homeownership

Loan Funding: The lender disburses funds, and ownership is officially transferred to you.
Start Making Mortgage Payments: Your repayment schedule begins as outlined in your loan agreement.

A Smooth Mortgage Process with Treasury Funds Home Loans, Inc.

At Treasury Funds Home Loans, Inc., we stay in close communication with you and your real estate agent every step of the way. Our goal is to ensure a smooth, well-informed, and hassle-free experience as you secure your dream home.