Buyer Education
Get All Your Mortgage Questions Answered
Get mortgage smart with United Home Loans. There is power in having the right mortgage for your financial goals. We want to understand your needs, present you with expert advice, and provide a transparent learning process on the way to obtaining your mortgage.
What is the very first step?
Get a pre-approval. It helps you figure out your budget, have your preliminary mortgage questions answered, and know you can make an offer as soon as you find the right home.
How do I choose a Realtor?
Your mortgage banker can refer you to an excellent local agent. Choosing to work with a Realtor who teams up with your mortgage banker means a smoother, more well-informed process for you.
What do I put in my initial offer?
Your Realtor will provide you expert advice on making an offer. They know the market and can determine the balance between how much you should pay and what things you can ask for, such as seller credits, if you want your offer to be taken seriously.
When does an offer become a contract?
Your Realtor will handle offer negotiations and keep you informed along the way. Once the price, closing date, mortgage terms, and other items are agreed upon, the seller will accept the offer and sign, which makes it an executed contract.
What happens next after a contract is signed?
Almost every contract provides the opportunity for an attorney review and a home inspection. The attorney review will protect the buyer from items that may create additional liability or exposure and the home inspection provides an evaluation of the major components of the home. If your attorney or home inspector finds red flags, your Realtor can go back to the seller to make requests.
What is the last step?
The very last step is receiving the clear-to-close on your home loan. An appraisal is ordered, you obtain homeowners insurance, and your loan goes through underwriting. On the day of the closing, you’ll sign all documents and get the keys to your new home.
