Unless you are fortunate enough to have the financial resources to purchase a home for cash you will definitely need to apply and obtain a home mortgage in order to purchase a home. Following are 5 steps in the home mortgage process.

1. Gather and organize all your financial records and any supporting documents. At the very least you will be required to provide to a home mortgage company the following:

• State and local tax returns for the past two years
• Recent credit card statements
• Banking and brokerage statements for the past three months
• Title of any vehicles you own
• Pay stubs for the past month
• IRA, 401(K), and other investment statements for the past three months

2. Shopping and comparing home mortgage offers is critical in the home purchasing process. Just a small difference in the interest rate can save you thousands of dollars over the years. There are many different types of home loans available. Contact a local lender to get the ball rolling. They can answer any questions you may have and direct you in the right direction on what type of home mortgage to apply for.

3. Get pre-approved or pre-qualified for a home loan. This step is important because it lets you know how much a lender is willing to lend you for a home loan. In other words, it tells you how much home you are able to afford. Knowing this keeps you focused on homes that are in your price range. Another important reason getting pre-approved is important is it builds confidence, not only in you but the seller. It shows that you are serious about purchasing a home and it can greatly increase the time it takes to close on a home.

4. Once you have shopped and compared home mortgage lenders you need to apply for the loan that best meets your needs. Choose a loan officer and stay in contact with them throughout the application process. It is likely they will need additional information before approving your home loan.

5. Once the loan is approved and you have found the home which you want to purchase you need to close on the home loan. This requires about 2 weeks or longer to complete. Read the documentation thoroughly and have all your questions answered before you sign the papers.

View all Jason Deines's articles

---

About the Author:
Visit Boise Id Real Estate for information, links and resources.

More Real Estate articles

Additional Real Estate Articles and Information on the Web

A Quick Guide to the Current Real Estate Market Crash
The news is full of reports about the real estate crash. However, there are still many local markets that remain virtually unscathed by the downturn in the market. If you live in one of these areas, you may think that your local market is safe and stable. You should know, though, that your local market can change quickly. And you need to prepare yourself for such an event.

A Lake Front Home in Hartwell - It's Something Special
If you've been considering a second home, perhaps a vacation cottage, Lake Hartwell, South Carolina homes should be on your short list of possibilities. Couples and young families are beginning to discover this southeastern jewel that offers a vast array of quality lifestyles in an astoundingly beautiful setting.

3 Tips to Working With a Real Estate Virtual Assistant
For some, the world of Virtual Assistance can be confusing. If you have never worked with a Virtual Assistant before, you may be unsure just how this all works. Working with a Real Estate Virtual Assistant can be similar to working with an assistant in your office, but is always so much more rewarding. Here are three tips to keep in mind when starting a business relationship with a Real Estate Virtual Assistant.

Spokane Real Estate Market Trends
Quite a few homeowners suppose it's not big deal to sell a home on their own, the FSBO way. They assume they can net thousands of dollars more at closing than if they hire a real estate broker and pay sales commissions. Many homeowners choose to sell their home without the aid of a real estate broker and do just fine; others find out the hard way how much help a real estate broker can be and how they can actually help to net more cash at the end of the negotiations. 

There Goes the Neighborhood
Many grassroots organizations and elected political officials have worked tirelessly to enact legislation to assist Americans in rural and urban areas with access to adequate banking services. In part those efforts have resulted in the creation of the Community Reinvestment Act (CRA). This act has provided many Americans with the opportunity to own their own home.

You Don't Have to Suffer From the Melting Real Estate Industry - A Lucrative Solution is Revealed!
Are you in real estate and struggling? Are you disappointed at the results and are perhaps thinking to going back to a 9-5 job boring corporate job? Have you seen your profits shrink?

Boca Raton - The Place to Live
Boca Raton is a 'principal city' (as defined by the Census Bureau) of the South Florida metropolitan area. Boca Raton is also home to several notable private and religious schools and is almost idiomatically used for indicating retirement. It is a year-round community that offers a full compliment of recreation, entertainment, shopping and dining opportunities.

How You Can Apply Stephen Covey's Seven Habits to Your Real Estate Business
According to Stephen R. Covey, "When you can present your own ideas clearly, specifically, visually; and most important, contextually, you significantly increase the credibility of your ideas. This quote by the author of The Seven Habit of Highly Effective People brings to light the importance of listening to others empathetically.

Nitesh Estates - A Realty Major in Bangalore
Nitesh Estates, the real estate arm of the Nitesh Group, is a property development company headquartered in Bangalore, India, with its presence in over eight cities across the country. Nitesh Estates develops world-class Office Buildings, Homes, Hotels and Retail Spaces. The company has undertaken development of more than eight million sq ft in barely five years of its operation.

Discover the Lake Hartwell Lifestyle With a Lake Front Home
Lake Hartwell waterfront homes, surrounded by two million acres of national parks and forests, is one of the loveliest places in the country for those seeking any type of retirement lifestyle. The sparkling waters of this man-made lake stretching across both South Carolina and Georgia is a perfect spot for anyone that wants to pursue an active life or just relax and enjoy the bounty of nature.