Financing a Home Purchase

When you have found the perfect real estate property, and you are ready to purchase it, what do you do next? 

Follow these 10 steps--

1.  Contact Capstone Mortgage Company, and we will issue you a Pre-Approval Letter (see The Loan Process).

2.   Present the Pre-Approval Letter with your initial offer to the prospective seller.  (Your initial offer should be below the listing price but within the terms of your Pre-Approval Letter).   Remember--it's a buyer's market, so your initial offer should at least 10% below the listing price.

3.   Order your home inspection (or your realtor may do this), when your final offer is accepted.

4.   Hire a closing attorney.  (We can recommend several attorneys that are highly competent with very reasonable fees).

5.   Select the loan program that best suits your needs, with the help of Capstone Mortgage Company.

6.   Submit to Capstone Mortgage Company a signed loan application and the required documentation(see Document Checklist).  

7.  Capstone Mortgage Company submits your loan application to the Lender. 

8.  Contact your moving company, utility company, the cable companies, the Post Office, etc.

9.   A couple of days prior to the closing, you request a preliminary HUD Settlement Statement from your closing attorney (see Closing Costs).

10.  You attend the closing, and refer all your friends and co-workers to Capstone Mortgage Company.