1. Get Pre-Approved:
When you get pre-approved with Benchmark, your application will be considered more desirable by the sellers and you will also be in a stronger position during negotiations. Additionally, it will give you a clearer idea of your price range for homes or properties and you will be able to decide what sort of financial picture you want to create for yourself based on your desired monthly payment, closing costs and down payment.
2. Pick The Right Loan Option:
Benchmark Mortgage offers a wide range of loan programs and we will work with you to find the one that best fits your needs. Whether you are looking for a 15 or 30 year loan, a VA Loan, or are in need of a home improvement loan that will help you renovate your property, our experts will walk you through the loan options that are available to you and make the most sense, financially.
3. House Hunting Time:
Now it is time to search for your future home! This is an exciting phase of the purchase process. Since you have been pre-approved you can go into this phase armed with the knowledge of exactly how much you house you can afford. This allows you to be more confident in the purchasing process and more decisive when you do find that house you want to make an offer on.
4. Make an Offer:
Once you have found the perfect home for your family, you will be working closely with your real estate agent to put in an offer. This offer may be met with counter-offers during negotiations, so it’s important to work with a knowledgeable and experienced agent who will help you get the best deal on your new home.
5. Offer Is Accepted:
Now it is time to schedule an inspection of the property as well as an appraisal. At this point, the home inspector will go through the entire property and identify any issues with the home, which can range from structural issues, to appliances or maintenance problems. If any issues are found, your agent can negotiate for the costs of repairs, or for the sellers to fix the items themselves before closing on the home. Once the inspection and any negotiations are completed, an appraisal will be performed on the property in order to make sure you are not over paying for the home.
6. Lock In Your Rate:
With the constant fluctuations in mortgage rates, you will want to lock in a rate as soon as you find that perfect home. At Benchmark Mortgage we will lock you in at the best rate available, and into a loan program tailored to fit your needs.
7. Closing On Your Home:
At this point we will submit your loan application for final approval once it is given, you will come in and sign the loan documents. Once all of the documents have been reviewed and approved then the funds will be disbursed to the seller and you will officially be a home owner. Congratulations!
To begin the home purchase process or if you have any additional questions please call us at (619) 266-7600.