Applying for a home mortgage is one of the biggest and most important financial steps you will take in your lifetime. While the mortgage loan process can seem complex to many, we like to break it down into only a few simple steps. Why? Because at Luminate Home Loans, we want to ensure you feel fully educated as you move through this process.
We make it our priority to guide you through the best financial decisions, all with your interest in mind. It’s our goal to help you feel informed and engaged throughout the entire lending process. Let us light the way to homeownership for you.
1. Apply for Pre-Approval
The goal of our application is to gather as much information as possible up front. This gives us a major head start and allows us to fly through the process.
2. Submit Documents
Upon receipt of all requested documents, we will schedule a time for you to meet to review your mortgage options, talk about the home buying process, and issue your pre-approval letter.
3. Start Your Search
Start searching for your dream home! This is the fun part—you get to look at houses and put in offers on the ones that feel like home.
4. Acceptance Offer
Once you put in an offer on a home and the offer is accepted, we’ll lock in your interest rate and take some of the final steps to you owning a home!
5. Appraisal
During this phase, we’ll have a licensed appraiser conduct a thorough inspection of the property to assess its true worth. From there, the appraiser will then compile all of their findings into a report and generate the home’s appraised value for us to get some final numbers together.
6. Underwriting
The goal of our application is to gather as much information as possible up front. This gives us a major head start and allows us to fly through the process.
7. Final Figures
At this point, you’re in the home stretch. You’ll receive the final figures and costs for closing, and set up a time to finalize everything.
8. Closing
Attend the closing with your driver’s license, receive the keys to your new home, and enjoy. Congrats—you’re a homeowner!
Are you ready for clear direction? Get in touch today!
Tim Erickson
P: (652) 451-2273
E: tim.erickson@goluminate.com
W: www.TimEricksonMortgage.com
Mark Henderson
P: (651) 398-3477
E: mark.henderson@goluminate.com
W: www.MarkHendersonMortgage.com