New Empire Mortgage Solutions (NLMS ID 1949736)

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Let New Empire Mortgage Solutions help you achieve your homeownership goals!

Purchasing a home typically involves a significant amount of paperwork and qualifications, which can vary depending on the lender and the type of loan being sought. Here are the steps it usually takes to purchase a home.



Borrowers must provide documentation, such as W-2s, tax returns, and pay stubs, to verify their income and employment history. Lenders typically require a credit score of at least 620 for conventional loans, although some may have higher or lower requirements.



This step involves submitting some basic financial information to a lender to determine the amount of mortgage loan that you may qualify for. This can be done online, over the phone, or in person.


Loan application

Once you find a property to purchase, you will need to complete a full loan application, which includes providing detailed information about your income, employment, debts, assets, and other financial information.


Loan processing

After you submit your loan application, the lender will review your financial information and verify your employment, income, and other details. This may involve requesting additional documentation, such as tax returns or bank statements.



The lender will then evaluate your creditworthiness, the property’s value, and other factors to determine whether you meet their lending standards and qualify for the loan.



If you are approved for the loan, you will receive a loan estimate and closing disclosure, which outline the terms of the loan, including the interest rate, fees, and other costs. Once you review and sign the closing documents, you will pay the down payment and closing costs, and the title will be transferred to your name.

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Achieve your homeownership goals today! Arlet Eugene (NLMS ID 1949736)