Purchasing a Home

Things to consider when purchasing a home.

Buying a home is a big purchase and it’s an exciting one to consider. Whether you’ve just started looking at your financing options, or if you’ve already decided that we’d make a great team, here are a few reasons why The Newman Team is the best fit for your home purchase:

We have a convenient online application so that we can get you pre-approved and moving on your loan FAST.

We make sure that the loan program fits your needs. The Newman Team wants you to feel comfortable with your payment and always understand all your options.

 

We communicate regularly and proactively with you from application to closing (and beyond), plus every other step along the way

 

 

If you ever have questions or concerns, don’t hesitate to give us a call!

Our team is committed to keeping up with industry changes just as much as we are committed to partnering with you to make the loan process an easy to understand and smooth experience.

Why Getting Pre-Approved is a Must

Did you know that you’re looking for a home in a very competitive market? You’ll need to put your best foot forward when you make an offer and to do that you’ll need to be pre-approved. Pre-approval means that your loan is fully underwritten (processed and then reviewed by our underwriters) and ready to go; unlike pre-qualification which is simply an automated review. Here’s what you need to know:

A pre-approval ensures that your credit and documentation are reviewed and ready. We will uncover any potential roadblocks, and get them out of the way before you even make an offer

You’ll be certain of the price range you can afford. This will refine your search, and give you comfort in knowing what your monthly payments will be.

Sellers like prepared buyers, which gives you an advantage over buyers who will still need to be pre-approved. In this market, it’s a must!

Pre-approvals are valid for up to four months, which means that you’ll have plenty of time to seek out your dream home, and jump on it when you find it.

Pre-approvals are no obligation and no charge, just simple assurance. You can rest assured that you can find your perfect home, as well as your perfect payment.

Your Application Checklist

As part of the application process, we’ll ask that you provide us with supporting documentation. When you’re ready to get started, simply apply online and start gathering the applicable documents below.  When it comes to buying a home, just remember the #2 — it’s the number that will help you get started on the path to homeownership. When applying for a mortgage, we’ll most likely ask for the following items:

During the loan process we need to verify your annual income and W-2’s are the easiest way to do that.

Your tax returns give us an overall picture of your financial history (for the past two years) and allow us to verify the rest of your financial information.

It is also important for us to verify your monthly income (especially if you’ve recently changed jobs) and sending us your pay stubs is the easiest way to do that.

In cases where you’re supplying money for a down payment or closing costs etc., we’ll need to verify the funds in your accounts. This also helps us understand all the assets you have at your disposal.

It’s important to cross the “T’s” and dot the “I’s” and part of that is understanding where you’ve been living the past two years.

Your job stability is one of the many factors we look at, having two years at your current job (or at least in the same industry) will help us check this off our list.

Cherry Creek Mortgage Co., Inc. NMLS #3001. An equal housing opportunity lender. NMLS #493951. All Rights Reserved. Some loan products may not be available in all states. Terms, rates, and fees subject to change. Please speak with one of our loan originators for more detail.