STEP #1
BEGINNING

The decision to buy a home.

STEP #2
PRE-APPROVAL

Upon completion of the mortgage application, and review of documentation, the lender issues a pre-approval
for a specific loan amount
and loan program.

STEP #3
MAKING THE OFFER

Once you find a home that meets your requirements, you subit the "offer to purchase" with your Realtor. The offer will detail your proposed purchase price and any and all requests for the seller to accept.

STEP #4
HOME INSPECTION

With the acceptance of your offer by the seller, a home inspection is performed to ensure the condition of
the home and all of its
vital systems.

STEP #5
PURCHASE & SALE AGREEMENT

This is a legally binding contract which outlines the sales price, down payment, and dates for the mortgage commitment
and closing. Any and all items being transferred in the transaction will be itemized.
The down payment is due in
full at this time.

STEP #6
APPRAISAL &
TITLE WORK

Heritage Home Funding will order both services for you. The Appraisal is a professional valuation of the property which must support the purchase price. The title search, performed by the bank attorney, ensures that there are no liens aganst the property.

STEP #7
MORTGAGE
COMMITMENT

Heritage Home Funding will have an approval from your lender by the date specified by your mortgage commitment date. This approval indicates that the appraisal, as well as
all other approval conditions have been satisfied.

STEP #8
REVIEW OF FINAL FIGURES

1-2 days before closing, the attorney will
prepare the HUD settlement statement which itemizes and totals all of the closing costs, escrows, and deposits. Heritage Home Funding will call to explain exactly how much you
will need to bring to closing.

STEP #9
CLOSING

All official final documents are signed,
remaining monies are paid, and keys to
the home are transferred.