Financing
The Home Loan Process
If you haven’t experienced it before, the home loan process can feel overwhelming, but our agents will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, we partner with some of the best lenders in the industry, and we’d be happy to introduce you, so you’ll be taken care of.
Get Pre-Approval
Before you start looking for a home to buy, it’s a good idea to meet with your Loan Officer to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assets and debts of the borrower (you) to determine how much house you may be able to afford. There are a variety of different loan programs, so make sure to get pre-qualification for the specific programs that best suit your needs.
Application & Processing
When you find property you’re ready to buy, your lender will help you complete a full mortgage loan application, and talk you through the various fees and down payment options. The application is submitted to processing, where the documents are reviewed and appraisals and title examination are ordered. Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance.
Closing
Don’t be surprised if you’re asked for additional documentation or clarification throughout the home loan process. Once your loan is approved, don’t forget to set up your homeowners insurance. Your documents will be sent to the title company, where you’ll sign paperwork for the new home and pay any remaining costs. Then the loan is recorded and you get the keys. Congratulations, happy homeowner!
Ares Mortgage
Eric Smart
About Me
Whether someone is looking for a new loan with great terms or seeking a better refinance solution, Eric Smart will individually consult with them to ensure that he offers a full range of loan product solutions that best match their unique needs and financial situation. He believes in effective communication with each client throughout the entire business transaction and strives to build a relationship that continues long after the loan is closed. Eric is committed to earning his clients’ business and respect every time they choose to work with him and refer others to his services.
Estimate Your Monthly Payment
Estimate your mortgage payment, including the principal and interest, taxes, insurance, HOA, and Private Mortgage Insurance.
Price
Annual Tax
Loan Term (Years)
Down Payment %
Interest Rate %
Monthly HOA
Monthly Insurance
$3,198.20
Estimated Monthly Payment
Principal
$2,398.20
(75.0%)Taxes
$500.00
(15.6%)HOA
$100.00
(3.1%)Insurance
$200.00
(6.3%)If you don't have a lender or title company you love, that's ok!
We do!
Steve Jobs once said, "Great things in business are never done by one person; they're done by a team."
That's why we've partnered with Eric Smart. He provides competitive rates, low fees, and consistently offer our clients the best customer experience.
