1. Prequalification:

   • Begin by filling out an application or contacting one of our loan officers. We’ll assess your financial situation, credit score, and income to determine your eligibility.
   • Prequalification helps you understand how much you can afford and sets the stage for the next steps.

2. Loan Application:

   • Once prequalified, complete a formal loan application. You’ll provide detailed information about your income, assets, debts, and the property you intend to purchase.
   • Our team will guide you through the paperwork and ensure all necessary documents are submitted.

3. Loan Processing:

   • Our underwriting team reviews your application, verifying the information provided.
   • We’ll order an appraisal to assess the property’s value and perform other due diligence.

4. Conditional Approval:

   • If everything checks out, you’ll receive a conditional approval. This means you’re on track, pending a few additional requirements.
   • Conditions may include providing updated documents or explanations for specific items.

5. Final Approval:

   • Address any outstanding conditions promptly.
   • Once all conditions are met, you’ll receive final approval, and we’ll prepare the loan documents.

6. Closing Disclosure (CD):

   • You’ll receive a CD that outlines the loan terms, interest rate, closing costs, and other details.
   • Review it carefully and ask any questions you may have.

7. Closing Day:

   • Schedule a closing date with a title company or attorney.
   • Attend the closing meeting, sign the paperwork, and pay any remaining closing costs.

8. Funding and Recording:

   • After signing, we’ll fund the loan, transferring the funds to the seller.
   • The title company records the deed, officially transferring ownership to you.

9. Post-Closing:

   • Congratulations! You’re now a homeowner.
   • Make timely mortgage payments and reach out to us if you have any questions or need assistance.

Remember, ACE Home Mortgage, LLC is here to guide you throughout the process. Visit our website at acehomemortgage.com to explore our loan options and utilize our helpful mortgage calculators.