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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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