Starting a mortgage application involves several key steps. Here’s a general guide to help you get started:

1. Check Your Credit Score – We can help you with this.

Our credit reports are good for 90 days.  We keep all you information Safe and Secure.

• Why: Your credit score significantly impacts your mortgage rates and terms.
• How: Obtain a copy of your credit report from a credit bureau or use a credit monitoring service.

2. Determine Your Budget – We can help you with this.

• Why: Knowing what you can afford helps you avoid overextending yourself.
• How: Use a mortgage calculator to estimate monthly payments based on your income, expenses, and down payment.

3. Gather Financial Documents – We can help you with this.

• Why: Lenders need to verify your financial situation.
• Documents Needed:
  • Recent pay stubs or proof of income
  • Tax returns (typically for the last two years)
  • Bank statements
  • Proof of assets (e.g., retirement accounts)
  • Identification (e.g., driver’s license, Social Security number)

4. Pre-Approval vs. Pre-Qualification 

Our Pre Approvals Are Good For 90 Days. And As Long As you Financial Situations Does Not Change Even Longer

• Pre-Approval: A more rigorous process that involves a lender reviewing your financial details and committing to a loan amount.
• Pre-Qualification: An initial assessment based on self-reported information, which can give you a rough idea of what you might be approved for.

5. Call North Star Mortgage Network

• Why: We typically offer the best rates and terms.
• How: You can compare mortgage rates and terms from banks, credit unions, and online lenders. then come to us and we will let you know if you are getting a god deal and if we can beat it..

6. Submit Your Application – https://www.nsmn.com/purchase-assistant/

• Why: This is where you formally request our help with a mortgage loan. 
• How: Complete the application form. This can often be done online, in-person, or over the phone.

7. We do NOT Charge Any Application Fees

• Why: Lenders may charge fees to process your application.
• How: Fees vary but are often required to cover credit checks and other administrative costs.

8. Wait for Approval – Typically Produced With In Hours.

• Why: We will review your application, verify your documents, and assess the risk.
• How: The process with some lenders can take a few days to several weeks, depending on the lender and complexity of your application.  We will have a pre approval with upon completing the application

9. Receive a Loan Estimate Of Fees

• Why: This document outlines the terms, monthly payments, and closing costs associated with your mortgage.
• How: Review this estimate carefully and ask us about any terms or fees you don’t understand.

10. Complete the Underwriting Process

• Why: Underwriting is a thorough review of your application to ensure you meet the lender’s criteria.
• How: Provide any additional documentation requested by the underwriter.

11. Close on Your Mortgage

• Why: This is the final step where you finalize your loan agreement and officially receive your mortgage.
• How: Sign the closing documents, pay any remaining closing costs, and the lender will disburse the funds.

Tips:

• Stay Organized: Keep copies of all documents and correspondence.
• Be Honest: Ensure all information provided is accurate to avoid delays.  We are on your side.
• Communicate: Maintain regular contact with your lender throughout the process.

Getting a mortgage can seem complex, but following these steps will help you navigate the process more smoothly.  We help guide you through every step of the process.

Please fell free to ask me any questions

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