Loan Process
OUR SIMPLE, 4-STEP MORTGAGE PROCESS MAKES IT EASY
Buying a home shouldn’t stress you out. Our simplified mortgage process ensures it doesn’t.
Is the homebuying process stressing you out? Here at Perennial Mortgage Group of Raleigh, we want your homebuying journey to be an enjoyable and memorable one — not the source of worry or strife.
To help your purchase go as smoothly as possible, we’ve created a simple and streamlined four-step process. Just follow the below four steps, and your Raleigh dream house is just down the road.
BUYING YOUR Raleigh DREAM HOME WITH Perennial
Working with our Raleigh mortgage office makes homebuying easy. Here’s what our simple, four-step mortgage process looks like — and how to prepare for it:
1. GET PREQUALIFIED FOR YOUR MORTGAGE LOAN.
The homebuying process begins with prequalification. To get started, simply contact one of our loan officers or fill out our online application. All we need is a few basic details about your income, monthly expenses and the property you’re hoping to buy, along with your permission to run a preliminary credit report. We will use this to gauge your candidacy for a mortgage loan, as well as to determine how much you stand to qualify for.
Once you’re prequalified, we’ll give you a letter making it official. We will also detail how much of a loan you’ll likely qualify for, so you know what price range to target in your Raleigh home search. You can also use your prequalification letter to give sellers additional confidence in any offers you submit.
2. FILL OUT YOUR MORTGAGE APPLICATION.
After you’ve found your dream home and the seller has accepted your offer, the next step is to fill out a mortgage application. You can do this online or through a Perennial loan officer. You will also need to include a number of financial documents. This allows us to verify your income, assets, debts and other financial data. To ensure this process goes quickly, try to gather and organize these documents early. Use our loan checklist to guide the way.
3. LET US TAKE THE REINS FROM HERE.
The ball’s in our court for step three. Once you have filed your application and handed over your documents, we’ll take the reins from here. The Perennial Raleigh team will order a property appraisal, survey and title search, and we’ll verify other data, like your employment, assets and other information provided on the application. In some cases, we may ask you to provide an additional document or two to support this process. When this occurs, try to respond promptly to avoid delaying your closing.
Once our processors and underwriters have verified all your information and finalized your loan, you’ll be ready to move onto the next step of the homebuying process: your closing appointment.
4. ATTEND YOUR CLOSING APPOINTMENT.
All that’s left is to attend your assigned closing appointment, sign the required paperwork and get the keys to your dream home. Generally, you can expect this date to fall anywhere from four to five weeks from your initial application filing.
After the loan funds, you’ll receive the keys and you’re free to move onto the property. You’re officially a Raleigh homeowner!
Perennial Mortgage Group OF Raleigh IS HERE TO HELP
This is only a primer on the general mortgage process, so if you have additional questions, concerns or just need more personalized guidance, then reach out to a Perennial Mortgage Group of Raleigh team member for help. We’re here to make your homeowning journey as easy, efficient and enjoyable as possible — today, tomorrow and decades down the line. Contact us today to learn more or get prequalified for your mortgage loan.