Buying a home is one of biggest financial decisions you will ever make. While exciting, it can also cause stress and sleepless nights if you are not prepared financially. The five simple steps below will guide you through the mortgage loan process so you can turn the American dream of owning a home into reality.
Step 1 – Contact CIS Home Loans and Get Pre-Qualified
CIS has been a full-service mortgage bank for more than 26 years. Whether you stop by one of our offices, call, or email, you will be greeted by trained and knowledgeable staff who are eager to help you get the right loan for your home purchase.
Prequalifying for a loan gives you a much clearer picture of how much you can afford to spend on a home. Plus, it gives you a leg up on many other home buyers because you can tell a seller you are ready, willing, and able to buy now.
Be prepared to provide the following prequalification information on the secure site for each applicant listed on the loan:
- Current email and physical address
- Social Security number
- Employer name and length of employment
- Loan information such as type of loan (site built or manufactured/modular home) and loan program (FHA, conventional, VA, USDA)
Step 2 – Go House Shopping!
Once you’re prequalified, put on your comfy shoes and start looking at homes. As you look, keep these HGTV.com tips in mind:
- Bigger isn’t always better—the largest house on the block appeals to fewer people thereby limiting potential buyers if you want to resell some day
- Keep calm and shop on—there’s a difference between emotions and instincts; use your instincts when judging whether or not a certain house is right for you
- Give your potential home a physical—hire a home inspector to give you a third-party, unbiased opinion of the home’s overall condition
- Be a smart bidder—your opening bid should be based on what you can afford (don’t outbid yourself) and what you believe the property is worth; be fair and reasonable
- Get a lay of the land—drop by the home morning, noon, and night to get an idea of what’s going on in the area around it before you move in
- Think about your needs—how does the home’s location impact your regular commute and access to goods and services
Step 3 – Apply for a CIS Home Loan
Congratulations on finding your dream home! While prequalifying for a home loan helped you take that important first financial step, applying for a specific loan will seal the deal.
CIS offers a full complement of loans—USDA Rural Development, VA, FHA, Conventional. Don’t worry if these terms are unfamiliar to you. A trained CIS team member can help you find the right loan for your home.
Applying is easy; simply go to cishomeloans.com/apply-now/. The form on this secure site will ask for information such as:
- Social Security Number
- Current pay stubs or, if self-employed, tax returns for the past two years
- Bank statements for the past two months
- Life insurance policy
- Retirement account statements for the past two months
- Make and model of vehicles owned and their resale value
- Credit card account information
- Auto and/or personal loan account information
If you are unable to fill out a form online or have questions, please call or drop by one of our offices. We love speaking with and seeing our customers in person!
Step 4 – -Review Closing Documents and Close on Home
Your dream home is just about to become a reality! On closing day, you will review and sign all closing documents provided by your CIS Home Loan officer. Practice writing your autograph because you’ll be signing lots of forms! But don’t worry. Your CIS Home Loan officer will explain each one to you as you are signing it. If you have questions along the way, just ask!
Step 5 – Disburse Funds
After closing, funds are transferred to the appropriate parties in a matter of days. The home you have dreamed about is now yours. Get ready to start packing and live the American dream. And if that dream happens to include a puppy or maybe a new baby, well, all the sweeter!
Buying a home is easier when you call upon a team of experienced, caring professionals. CIS Home Loans is a full-service mortgage bank with more than 25 years of experience. The personal relationships we form during the loan process are as important as the loan itself. It’s why Character, Integrity, and Service make up CIS Home Loans’ name.