Things You Need to Know About Mortgage

First-Time Home Buyers

Are you getting ready for 2016 yet?You might be looking for your home, but you don’t know the process of mortgage? Don’t worry!I am featuring with Brad Jagacki from Guaranteed Rate.

If you are a first time home buyer then you will certainly understand how exciting it can be. You will need to make sure that you prepare yourself and you also need to make sure that you understand what is required of you as well. The first thing that you need to do is download our guide on the whole loan process, this way you will be able to learn everything that you need to know about mortgages and how you can secure one for yourself.

Secondly, you’ll also be glad to know that we have split up the loan process into smaller sections so if you are a first time buyer then you won’t have any problems at all.

The Application

If you want to get a loan then the first thing that you need to do is fill out an application. If you want to get this done as fast as possible then it is always a good idea to have your basic financial and personal information to hand when you start the form, as well as having your credit score and any other information that might be relevant.


The pre-approval stage is very different to the pre-qualification stage. You need to make sure that you understand this or else it will become very confusing later on. Your approval is based on your current employment as well as your debit information.


When you reach this stage, you will need to fill out various documents. It helps to be organised at this stage and you may think that by having the original documents provided at the start, you have everything you need but in most cases, you may actually need to provide further information depending on your history.


At this stage, someone who will be known as an “underwriter” will take a look at your mortgage application to make sure that you have everything in order. They will also make sure that your property is in good condition as well, in case you are not able to repay your loan at any stage.


You, your loan expert and the seller will work together and when the sale is being closed, you will need to sign a lot documents and this will include your HUD-1 as well. Once this has all been done, you will be given the keys to your new place and you’ll be a homeowner!

If you want to find out more about mortgage, contact him!

Brad Jagacki /

(734) 368-9276 / NMLS ID: 31183

If you have any questions, please contact MKT Homes today!