Process for Home Purchases
Consultation
Determine the best approach to buying a home by taking a look at the holistic financial picture and how it may affect your short term and long term goals.
Pre-Qualification
By completing the Loan Application and performing a credit analysis, Madison Financial can provide a pre-qualification letter to use when looking for your new home.
Select a Home
Madison Financial would be happy to provide you with our list of preferred Realtors to assist you in finding your home.
Submit to Underwriting
Loan is submitted to selected Lender for underwriting approval.
Approval with Conditions
Normally there will be a few underwriting conditions that will need to be resolved such as the appraisal.
Fulfill Conditions
Madison Financial will order the appraisal and complete any other documentation along with your assistance if necessary to fulfill the remaining underwriting conditions.
Final Underwriting Review
The underwriter will review the appraisal along with the other final conditions.
Clear to Close
If everything meets the underwriter's approval then the "Clear to Close" will be issued.
Order Title Work and Schedule the Closing Time
Madison Financial will order the appropriate Title work and schedule the closing based upon the best time for all parties.
Close on Your New Home
Congratulations!