10 Steps To Homeownership

Get Pre-Qualified

After meeting with your Loan Officer, choose your loan program and gain an understanding of required down payments and closing costs. Your credit, income, and assets will be discussed and you will receive a pre-qualification letter.

Find A Realtor

Let us help you choose a reputable, experienced Realtor to share valuable location research with you and help you evaluate and compare properties in your price range.

Make An Offer

Once you have chosen a property, a Realtor will help you prepare your offer and present it to the Seller. You will most likely need a deposit towards the purchase and your Realtor will safeguard the funding until closing.

Complete Your Application

When the Seller accepts your offer, you will complete an application for your loan. Afterwards, you will update any necessary paperwork and be asked to produce documents for proof of assets and income.

Get Home Appraised

After terms are negotiated and your offer accepted, you may hire a licensed Home Inspector to examine the home. If satisfied, your loan application will move forward and you lender will order an appraisal. You will receive a Loan Estimate.

Underwriter Review

Mortgage Underwriters will review your entire loan file, including the Appraisal Report, and determine if any conditions relating to the property or your finances must be met prior to the Final Approval.

Loan Approved

When your loan has been cleared, Bank of England Mortgage alongside your Realtor will schedule the closing of the sale with your Title or Escrow Agent and coordinate the closing with the Seller and their Realtor.

Final Walkthrough

Shortly before Closing, your Realtor will arrange a final walk-through of the property so that you may see it remains in good condition and that no promised appliances or other features have been removed.

Review Closing

Three business days prior to your Closing, you will receive a Closing Disclosure that compares the final figures to the original Loan Estimate to review, so there are no surprises at Closing.

Attend Closing

At Closing, you and the Seller will sign all the documents that transfer the title and ownership. You will also sign all paperwork about loan repayment and property upkeep. When all paperwork is finished, you will receive the keys!

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