4 steps to financing your new home.

Finding the right home loan option for your situation is an important (and often overlooked) step in the home buying process. Take a minute to learn more about the home loan process and what to expect along your journey to buy a new house. And remember, if you need help our partners at Mortgage Center¹ and our Lake Trust team members are always here to help. 

Step 1: Get pre-approved.

Apply for your home loan online with our partners at Mortgage Center to get pre-approved. You can also call Mortgage Center at 888.429.6908 to start the pre-approval process. This important step in the financing process will help you stay on budget when looking at homes. A pre-approval also shows sellers and real estate agents that you’re serious about buying a home.

You’ll need a few pieces of information to start your pre-approval:

• W-2 forms from the past two years
• One full month of your pay stubs
• Your two most recent Lake Trust account statements (you can find your E-Statements by logging in to Online Banking)
• A valid government ID

Any co-borrowers on your mortgage will need to provide the information above as well.

Step 2: Make an offer.

Once you’ve found the perfect home, you’ll work with your real estate agent to write up an offer. You agent can help guide you on choosing a fair, reasonable price to offer the sellers and write in any additional conditions of your offer (like if you need extra time to close or if the offer is contingent on you selling your current home).

When your offer is accepted by the sellers, let Mortgage Center know the offer details, like the agreed upon price. Now you’ll start the mortgage process.

Step 3: Provide additional information.

An appraisal will be ordered on your new home, and you’ll need to schedule a home inspection. Mortgage Center may ask you or any co-borrowers for additional information for verification. Your lending partner will finish processing the mortgage and work with you to schedule a closing date.

Step 4: Close your loan.

You’ll sign the final paperwork with your realtor, lender, and the sellers. You’ll need to provide funds for your down payments and any closing costs (which will be discussed with Mortgage Center before closing). After you close on your home loan, you’re officially a homeowner. Depending on the terms of your offer, you may even receive the keys to your new home today!

Here to help.

When you’re ready to begin your search, give our partners at Mortgage Center a call at 888.429.6908 or apply for your home loan online. They’ll help you get into a new place as fast as possible. Your dream home is waiting for all of the great new memories that you’re going to create in it. 

Mortgage Center NMLS #282701

¹Third party website. Lake Trust Credit Union is not responsible for the content, availability, security or compliance of any linked third party websites. In addition, the site's privacy policies may differ from those of Lake Trust.