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Know the Key Players in the Home Buying Process

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This is an excerpt from our eBook, Managing the Mortgage Process Like a Pro. Get the full eBook for FREE. Download here.

When you’ve never bought a home or taken out a mortgage before, the process can seem intimidating. You have important decisions to make that will have a big effect on your quality of life—a positive effect, if you make smart, informed choices.

There are large sums of money and complex legal documents involved, not to mention the legal jargon which may not be familiar to you. Two-thirds of Americans have gone through the process to become homeowners, though, and there’s no reason you can’t, too.

In addition, between finding a home, applying for a mortgage and closing on your home, you’ll be working with numerous professionals. Here are some of the most common roles and what they do:
 

  • Real estate agent: Real estate agents help you shop for a home, negotiate a fair purchase price and counsel you on the terms of the sale.
     

  • Loan officer: Aside from your real estate agent, the loan officer is the person you’ll interact with the most, from the time you apply for a mortgage until the day your loan closes. A loan officer can answer your questions about mortgage qualification, choosing the right loan and making sense of loan documents.
     

  • Mortgage underwriter: The mortgage underwriter takes the loan officer’s job a step further, reviewing the same information but with more scrutiny. The underwriter makes sure you really qualify for the mortgage.
     

  • Real estate appraiser: A real estate appraiser visits the home you want to buy and looks at comparable sales records to make sure the home is worth at least as much as you’ve agreed to pay.
     

  • Home inspector: A home inspector will meet you at the property and examine the home’s visible systems and components.
     

  • Closing representative: A closing representative works for your lender or the title company. They oversee the closing process to make sure you understand what you’re signing and to answer any last-minute questions.
     

  • Notary: A notary witnesses the signing of your loan documents.


Knowing the key players in the mortgage process is just one of the topics covered in our new eBook, Manage the Mortgage Process Like a Pro. This book will walk you through the process of applying for and securing a home mortgage and take the mystery out of financing a home purchase. In it, you’ll learn:
 

  • how to shop for a mortgage

  • who the key players are in the mortgage process

  • the role your credit score plays when applying for a mortgage

  • how the mortgage application process works

  • and so much more!

 

Download my eBook

 

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