Page 28 - Justice AZHG
P. 28
WE’VE GOT
THE SCOOP
ON GETTING A
NEW LOAN
WHEN AND WHERE TO They will verify information such
APPLY FOR A LOAN as your credit, employment, and
Ideally, you want to get pre- bank accounts. Be prepared
to
provide
the
requested
qualified before you start information quickly to avoid
looking at properties. Then you delays in your purchase. They will
can narrow your search into also order an appraisal (which the
your price range and avoid the Buyer typically pays for) to verify
disappointment that may come the property is accurately valued.
from viewing properties outside
your budget. HAZARD (OR FIRE) Laurel Cook's Daughter, Morgan (Compass)
It is important to choose a lender INSURANCE protect their investment. You will
need to contact your insurance
you can trust. A local lender This coverage is required by your agent as soon as possible during
who you can meet in person and lender to minimize their risk and the loan process to set up the
who knows the local intricacies insurance. Your lender will need
is best. Get recommendations proof of coverage as well as your
from friends, family, and even agent’s information before they
your Real Estate Agent. You can can release any funds toward
apply for loans through banks, your purchase.
credit unions, mortgage brokers,
and mortgage companies. It’s WHAT HAPPENS AFTER
a good idea to shop around for LOAN APPROVAL?
the best rates and use the loan
estimates from each lender to A closing date will be set with
compare rates. Pioneer Title Agency. Your
lender will provide the Closing
Disclosure at least three days
LENDER VERIFICATION prior to your closing. This
The lender will send out document shows a breakdown
verification requests based on of all the transaction funds and
the information provided in your will show you how much money
application and may request Treat Center on Whiskey Row you will need to bring to closing.
additional information from you. Prescott, Arizona Check this document carefully!
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