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In this second installment of this series, we will talk about the ins and outs of the actual home loan process.

Buying a house can be a daunting task, but when you break a larger task into smaller parts, it becomes more manageable. We are here to empower you with the knowledge you need to go into the process confidently.

The steps you need to know will be broken down into pre-approval, an appraisal, underwriting, and closing. The sections below will guide you easily through the process.

First: Get pre-approved

The pre-approval process can start with the 5 minute loan approval. You will need to inform the lender of your credit score, employment history, budget, and how much you have for a down payment.

The lender reviews this and other important information, after which they may offer a pre-approval letter. If after reviewing the information, and the lender does not see any reason why you couldn’t buy a home for what you’re looking for, you can move forward to the next step.

Second: Get an appraisal

Often, a lender must obtain an appraisal to determine if the home’s value supports the requested loan amount.

Third: Get the loan approved

Once the appraisal is complete and the home is worth the investment, the file is sent to underwriting. In some cases, there are lenders who have underwriters who work for them. Underwriters go through everything with a fine-tooth comb to ensure the file meets all loan product and regulatory requirements to approve the loan.

Last: Closing

Once the contract has been submitted for “clear to close,” the lender can close the loan. This will result in closing costs, but first-time homebuyers can seek out programs where they may not have to come out-of-pocket for them. And that’s it!

Hopefully, the breakdown of this process will get you one step closer to owning your dream home. In the last post of this series, we will talk about the benefits of owning a home versus renting one. Stay tuned!

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate. Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.
John Schutze

John Schutze

John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

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The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.