The Mortgage Process
Contact 1st National Bank to get started with a Pre-Approval. A Pre-Approval helps you determine the amount of home you can afford and gives you buying power when searching from homes. A pre-approval tells the seller that you are able to obtain financing based on the information given to 1st National Bank. When asking for a pre-approval we will need information from you according to your source of income. Click here to learn about the documents needed to start the home buying process.
Select A Home. You will work hard with your real estate agent touring homes until you find your dream home. This is the fun process where you are able to envision your future and make selections on location, size, community, land, and more.
Submitted an offer on your dream home with your real estate agent and tell 1st National Bank so we can get the loan process moving! If you need to move in quickly be sure to tell your mortgage banker because we can close your loan in as little as 15 days!
1st National Bank will request an appraisal by an independent real estate appraiser for the home you have chosen. The purpose of this appraisal is to ensure the purchase price and mortgage amount are in line with the estimated value of the property. This is typically a detailed walk through of the property and the repairs or issues the appraiser sees are noted.
1st National Bank works hard behind the scenes on your loan and new home purchase. You will be contacted by your mortgage banker if any additional information is needed along the way. This is a good time to plan your move!
You will receive a message from your mortgage banker that your loan is approved and a closing date is set. The lender, real estate agent, and title agency will work together towards this date to ensure a smooth change of property ownership.
Closing day! You will need to bring your down payment on this day or have the information given to your mortgage banker if you are planning to make any transfers. On this day you will attend a meeting led by the title company to sign paperwork with the previous home owner and the legal sale/purchase of the property is performed. Expect 60 to 90 minutes for this meeting.