Application Information

Your lender will need a complete picture of your financial situation to help determine how much home you can afford. 

Type of Loans

Remember that financing options are affected by local real estate and banking practices and in some areas by local law. See some of the different types of loans

The Loan Process

The lender will ask you some basic financial questions about your current income, debts and assets available for investment in your new home.

Choosing Right Lender

Home financing is available from mortgage companies, banks, credit unions and others.  Each will have its own rules, rates and fees. 

Calculating Net Proceeds

Your agent should give you an estimate of net proceeds showing how much cash you’ll get at closing. An offer that looks good on its face may have hidden costs.


Bargaining position is affected by the reason the house is being sold.  Example, the seller is moving for job-related reasons or is getting a divorce.

What the Offer Contains

Your written offer may include, but is not limited to, the property’s address and legal description, sale price, terms, earnest money, expiration date, etc.

Closing Documents

At closing you will get, a HUD-1 Settlement Statement, a Truth-in-Lending (TIL) statement, the mortgage note itself, the deed, and any other affidavits. 

What Closing Entails

Closing is the formal meeting where ownership of the property is transferred from the seller to the buyer. Also at this time, the buyer’s loan is finalized.

Closing the Deal

Closing is the culmination of the offering/buying process.  You might meet the seller at closing. Hire a real estate lawyer to represent at closing.

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