The Home Loan Process

We specialize in home loans in Logan Utah and cache valley mortgages. We are a mortgage company in Logan Utah that offers home loans in cache valley Utah, all of Utah, and we also do home loans in Idaho. Wondering how much mortgage you can afford? Our loan officers near you can help you see how much mortgage you can afford and show you the best home loans. Mortgage Company near me, Mortgage Company near me, Mortgage Company near me, Mortgage Company near me, Logan Utah mortgage company, Wasatch Mortgage Solutions, offers home loans near me. You can help you answer the question, who offers mortgages near me. Logan Utah Home Loans, Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans, Home Loans near me, Home loan companies near me, Mortgage near me, Mortgage Company near me, Mortgage companies near me, Home loans in Cache Valley Utah, Cache Valley Home Loans, Cache Valley Home Loan provider, Cache Valley mortgage, Cache Valley Mortgage company, Cache valley mortgage companies, Mortgage Cache Valley Utah, Mortgage company in Cache Valley Utah, Mortgage companies in Cache Valley Utah, How much mortgage can I afford? How much mortgage do I qualify for? How much home loan can I afford? How big of a home loan can I afford? We specialize in home loans in Logan Utah and cache valley mortgages. We are a mortgage company in Logan Utah that offers home loans in cache valley Utah, all of Utah, and we also do home loans in Idaho. Wondering how much mortgage you can afford? Our loan officers near you can help you see how much mortgage you can afford and show you the best home loans. Mortgage Company near me, Mortgage Company near me, Mortgage Company near me, Mortgage Company near me, Logan Utah mortgage company, Wasatch Mortgage Solutions, offers home loans near me. You can help you answer the question, who offers mortgages near me. Logan Utah Home Loans, Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans, Home Loans near me, Home loan companies near me, Mortgage near me, Mortgage Company near me, Mortgage companies near me, Home loans in Cache Valley Utah, Cache Valley Home Loans, Cache Valley Home Loan provider, Cache Valley mortgage, Cache Valley Mortgage company, Cache valley mortgage companies, Mortgage Cache Valley Utah, Mortgage company in Cache Valley Utah, Mortgage companies in Cache Valley Utah, How much mortgage can I afford? How much mortgage do I qualify for? How much home loan can I afford? How big of a home loan can I afford?

Buying a home is exciting, rewarding, and easier than you’d think. Here are the steps you’ll take throughout the home loan process. They’ll show you what you need to do to make your dream home, home.

 

 . Logan Utah Home Loans, Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans, Home Loans near me, Home loan companies near me, Mortgage near me, Mortgage Company near me, Mortgage companies near me, Home loans in Cache Valley Utah, Cache Valley Home Loans, Cache Valley Home Loan provider, Cache Valley mortgage, Cache Valley Mortgage company, Cache valley mortgage companies, Mortgage Cache Valley Utah, Mortgage company in Cache Valley Utah, Mortgage companies in Cache Valley Utah, 

Step 1: Getting Pre-Approved

Have you ever asked yourself, how much mortgage can I afford? Getting pre-approved answers that question. A pre-approval helps you see how much money you can borrow towards your new home. Essentially it gives you a safe budget to work with that’s based off of your current financial situation. A pre-approval also helps you avoid looking at homes that are too expensive.

You can get pre-approved by talking to one of our loan officers. Together you’ll go over some information, such as your employment, credit history, and current debts, to determine how much of a home you qualify to buy. To get a strong, accurate pre-approval you'll want to bring some documents with you. Check out the documents required for a pre-approval.

 

Getting pre-approved also gives you a chance to learn more about the different home loan programs available. There are a lot of great options, each with some advantages and unique requirements. Talking with your loan officer about where you want to live and the down payment you’d like to provide helps them find the best mortgage for you.  

 

 . Logan Utah Home Loans, Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans Logan Utah Home Loans, Home Loans near me, Home loan companies near me, Mortgage near me, Mortgage Company near me, Mortgage companies near me, Home loans in Cache Valley Utah, Cache Valley Home Loans, Cache Valley Home Loan provider, Cache Valley mortgage, Cache Valley Mortgage company, Cache valley mortgage companies, Mortgage Cache Valley Utah, 

Step 2: Finding Your Dream Home

We’ll introduce you to a great Realtor who will be your advocate. They'll help you find the perfect home, negotiate the purchase price & contract terms, and handle your paperwork (and those are just a few of the benefits of working with a Realtor).

Heads up: Don't forget to take your written pre-approval letter to your Realtor. It helps them create a stronger offer once you find the right home!  

 

Step 3: Signing Initial Documents 

Once you’ve found your dream home it’s time to start your mortgage application. That means signing the loan application and some other initial paperwork. Once you've signed this paperwork, your home loan will move through multiple steps simultaneously. Those steps include, underwriting with possible conditions, locking your interest rate, and getting an appraisal on your home.  

Heads up: Your home loan cannot move forward until you've signed the initial paperwork.

 

Step 4: Home Appraisal 

An appraisal is a comprehensive report that shows the value of your home based on factors such as the number of rooms, square footage, location, age, etc. Since it tells you exactly what your new home is worth, an appraisal can help protect you from overpaying for the home. Appraisals are done by an independent 3rd party and typically cost between $400 and $550, but your loan officer will let you know the exact amount you’ll need to pay.

 

Heads up: It’s possible that the appraisal will note repairs that need to be completed before your home loan can close, like replacing a hand rail or touching up some peeling paint.

 

Step 5: Underwriting 

An underwriter is a key decision-maker in the home loan process. They review your loan application, financial paperwork (pay stubs, W-2’s), and other documentation to determine if your home loan is approved or denied. In order to approve your loan, it’s very common for the underwriter to request more information. These requests are called conditions.  

 

Step 6: Underwriting Conditions 

Underwriters often request to see more information before they can approve your loan, these are called conditions. The underwriter may want to see more documentation on your bank account or an explanation of something that appeared on your credit report. Conditions are normal and you shouldn’t be concerned, but you may be asked to provide additional documentation as the underwriter requests.

 

Heads up: Most conditions are related to the three C’s: Credit, Capacity, and Collateral. These C’s help the underwriter understand your financial situation and ability to repay the home loan you are applying to receive.

 

Step 7: Locking Your Interest Rate 

Interest rates are constantly changing. From the time you start your home loan until it closes you’ll see a substantial number of rate adjustments. Locking your interest rate protects you from consistent rate changes. It guarantees that you’ll receive a certain interest rate and price for a specific amount of time.

You can lock your interest rate any time after you've signed the initial loan documents. Your rate can be locked for 15, 30, 45, or 60 days. Shorter locks have better pricing, but come with a little more risk. If your home loan doesn’t close before your lock expires, you could lose the interest rate you locked. We recommend a 30 day lock because it typically gives you enough time to complete your home loan and still offers good pricing.

Heads up: Your loan officer is constantly watching interest rates and the economic factors that can cause rate changes. They’ll help you pick the best time to lock your interest rate.

 
 

Step 8: Closing Disclosures

After the underwriter has approved your loan, your interest rate has been locked, and your appraisal is complete its almost time to close your home loan! A few days before your closing you will receive documents called closing disclosures. These documents show the final numbers for your home loan, including closing costs, the loan amount, your interest rate, and more.

           

You need to review and sign these documents as soon as possible; but if you have questions or something doesn’t appear correct, contact your loan officer before signing the closing disclosures.

 

Heads up: You cannot close on your home loan until 3 business days after these documents are signed, so if you forget to sign them it will delay your closing date.

Step 9: Closing Your Home Loan

Closing your home loan is one of the last, and most exciting, steps in the home loan process. This is where you sign the binding paperwork that transfers ownership of the property and the mortgage to you. Your closing will typically take place at a title agency where you'll meet with your loan officer, a title agent, and your realtor. 

As you sign the closing documents, make sure to review them for accuracy. If anything looks out of place, ask your loan officer for clarification.

Heads up: You’ll need to bring two forms of I.D. with you to your closing and one of them needs to be a photo I.D.

 

Step 10: Funding/Recording

Once you’ve signed the documents at your loan closing, your new mortgage needs to be funded and recorded. Funding occurs when your mortgage lender transfers money (typically by wire) to the title/escrow company. The title company uses that money to pay the seller and other parties. 

 

To record your mortgage, your signed deed of trust is taken to the county recorder's office and recorded, making you the legal title owner of the property.

 

Step 11: Moving In

Congratulations! You've closed on your mortgage and finished the entire home loan process. It's time to move in and start enjoying your new house. Watch for your first mortgage payment and call your loan officer if you have any questions. 

Utah Loans, utah loans, Northern Utah Loans, northern utah loans, Cache Valley Loans, cache valley loans, Utah Mortgages, utah m​ortgages, Northern Utah Mortgages, northern utah mortgages, Fast Track Loans, fast track loans, Fast-Track Loans, fast-track loans, Fast-track Loans, Fast-track loans, Fast-Track Mortgages, fast-track mortgages, Fast-track mortgages, Fast-track Mortgages, Quick Loans, quick loans, Quick loans, Fast loans, fast loans, Quick Mortgages, quick mortgages, Fast mortgages, Fast Mortgages, Purchasing a home, Purchasing a Home, Buying a home, Buying a Home, Refinance, refinance, FHA loans, FHA mortgages, fha loans, fha mortgages, purchase, purchase, refinance, refinance, USDA loan, USDA, Rural Housing Loan, Rural housing, Rural housing loan, Mortgages in Logan, Mortgages in logan, Mortgages in Logan, Mortgages in Logan, Mortgages in Logan, Mortgages in logan, mortgages in logan, mortgages in logan, mortgages in logan, Northern Utah Mortgages, Northern Utah Mortgages, Northern Utah Mortgages, Northern Utah Mortgages, Mortgages in Cache Valley, Mortgages in Cahce Valley, Mortgages in cache Valley, Mortgages in cache valley, mortgages in cache valley, mortgages in cache valleymortgages in cache valley mortgages in cahce valley, mortgages in cache valley, mortgages in cache valley, mortgages in cache valley, Mortgages in Cache Valley,, Mortgages in Cache Valley, Mortgages in Cahce Valley, Mortgages in Cache valley, Mortgages in Cahce Valley, Cache Valley Mortgages, Cache Valley Mortgages, Cache Valley Mortgages, Cache Valley Mortgages, Cache Valley Mortgages, loans in cache valley, logan laons, logan loans, logan loans, logan laons, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, cache valley mortgages, Cache Valley Mortgages

435-755-2177

664 North Main Ste. 103

Logan, UT 84321

NMLS: 3135

Wasatch Mortgage Solutions

  • Wasatch Mortgage Solutions Home Loan