Home Purchase

Purchasing A Home: About Colorado Denver Home Loans!

green house - vn

Buying a home (and financing it with a Colorado Denver home loan) is often something many of our clients have dreamed of for many years. And here at The Newman Team we want to be the ones that help you achieve that dream.

If you’ve never been through the process of buying a home (and getting a mortgage) or if it’s been a while, the process can seem a little overwhelming and confusing. The good news is that it doesn’t have to stay that way. We’re your partners in this process from start to close and can help you understand any step or answer any questions that may come up.

For a better understanding of each step you’ll be take, take a look at the process below! We’re looking forward to helping make your home dreams come true!

The Newman Team And Cherry Creek Mortgage Process From Start To Close:

Step 1: Contact Your Loan Officer
If you’ve got a new home in mind… your first step is to call The Newman Team! We’ll be able to help you get started with the mortgage process and guide you in starting your mortgage application!

Step 2: Complete Your Mortgage Application & Credit Report
When applying for a mortgage with The Newman Team, you have several options! You can apply online (the fastest and easiest way), we can take your loan application via phone or we can set up an appointment and we can take your application (and meet) in person! Your loan application will give us a better idea of your financial situation and start the ball rolling in the right direction! Once we have your completed application we’ll also (with your permission) pull your credit report.

Step 3: Meet with The Newman Team to discuss Loan Options & Needed Documentation
Whether we meet in person or talk on the phone we’ll be in contact with you to discuss your loan options and go further into what we’ll need from you throughout the loan process.

Step 4: Pre-Qualification
After taking a look at your application and credit report, as well as discussing your goals for the transaction, we’ll issue a pre-qualification letter letting you know how much of a Colorado Denver home loan you qualify for.

Step 5: Begin Your Home Search
With your pre-qualification letter in hand, it’s time to start looking for your new home! If you need help selecting a realtor, we’re happy to provide some recommendations in your area!

Step 6: Your Offer Is Accepted – Under Contract!
Once you’ve found your new home, submitted and offer and been accepted… let us know! Your agent will send us the contract and we’ll work with you to meet all your contract deadlines.

Step 7: Your Loan Goes To Processing
Now that the big decisions are made (you found a house and know what type of loan program you want) it’s time to send the loan to processing. Our processor will prep, organize and analyze all the information to make sure it meets government guidelines. You may hear from our processor if we need more documentation or if there are any questions regarding your file.

Step 8: Complete Your Home Inspection
Most home purchases are contingent on a home inspection. During this time you may have to negotiate with the seller if any major issues are found.

Step 9: Home Appraisal Is Completed
In order to complete your loan we need to make sure your new home is worth what we think it is. An appraiser will evaluate the home value and report back on his findings.

Step 10: Submit Additional Documentation
You may need to submit additional documentation as needed throughout the process.

Step 11: Obtain Homeowner’s Insurance
Determine which company you’d like to obtain homeowner’s insurance from (we can provide recommendations if you need them) and apply for your policy.

Step 12: Your Loan Goes To Underwriting
When a loan goes to underwriting it’s in for its final review. After an underwriter review of your file, additional items (documentation, explanation etc.) may be requested or the file may be cleared to close and ready to head to closing!

Step 13: Closing
Congratulations! Your loan has been cleared to close. From here you’ve got a stack of papers to sign and you’ll be on your way to owning your new home!

If you’re ready to get started with your home purchase, please give us a call (720.97.8400) or email us (newmanteam@ccmclending.com) today!

We look forward to helping you with your Colorado Denver home loan!