Mortgage Basics: What's the process for buying a house? 
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What's the process for buying a house? There are many paths a home buyer can take in purchasing a home. 

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A pamphlet unfolds to reveal as with three steps and connecting diagram lines

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In general, it really comes down to these three steps, and your mortgage loan officer helping you through the process. 

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Puzzle pieces appear with different mortgage types written on them

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First, pre-qualification. Think of this as a preliminary discussion of how much you may be able to qualify to borrow, based on the available loan programs and information you provide. 

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Puzzle piece is placed into puzzle of a house

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While not required to complete the purchase, with this figure, you can work out what down payment and monthly payments you can afford,...

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Pie chart and stack of dollar bills, which begin peeling off the top of the stack.

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...and you can ask for a pre-qualification letter that helps you move forward with the home buying process and show sellers you are serious about making an offer. 

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Person at computer looking at homes for sale with Pre-Qualification letter on desk.

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Second, there's pre-approval, which is when the lender customizes the specific loan amount for you. 

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Picture of a house with a dollar sign in the corner.

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The lender reviews lots of your financial information, including a credit check, your income, and other documents you'll provide. 

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A number of documents side by side along with a check, all slide together and in to a folder.

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At that point, the lender may be able to offer a conditional approval for a specific loan amount. Now you can shop for your home and you'll negotiate a sales price. 

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Quote bubbles come from back and forth across the screen, revealing two people with a shared quote bubble containing a check mark.

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And third, there's the final approval. This is the formal loan approval for the home you've picked. 

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A document is stamped by a hand, reading "FINAL APPROVAL".

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Before this, an appraisal will be completed…

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A house inspected with a magnifying glass.

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...you'll choose a title company,...

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A person at a laptop selects from a list generic title companies.

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...and set a closing date.

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A red "X"� is marked on a calendar

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After you sign all the papers at closing,...

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A document is signed.

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... you'll be ready to move in.

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A moving truck passes two people shaking hands and a house.

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You can relax a little knowing these three steps, while your mortgage loan officer can help remember all the details for you. 

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Zoom out to reveal house, people shaking hands and three steps with connecting diagram lines.

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It all becomes more manageable, especially the part where you get to move in.

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