Pre Approval/ ProcessLance Ubben- Keller Williams Realty Sioux Falls

The Mortgage and Loan Process

Funding Your Home Purchase


1. Financial pre-qualification or pre-approval

Application and interview

Buyer provides pertinent documentation, including verification of employment

Credit report is requested

Appraisal scheduled for current home owned, if any



2. Underwriting

Loan package is submitted to underwriter for approval



3. Loan approval

Parties are notified of approval

Loan documents are completed and sent to title



4. Title company

Title exam, insurance and title survey conducted

Borrowers come in for final signatures



5. Funding

Lender reviews the loan package

Funds are transferred by wire



Why pre-qualify?

I recommend my buyers get pre-qualified before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means.