Buying A Home

 

7 Easy Steps

Truvaya Mortgage

STEP 1

Pre-Qualification

CALCULATE

 

We provide you the tools you need to be able to determine whether now is the perfect time for you to transition from renting to owning. Check out our Mortgage Calculator, Affordability Calculator and Rent vs Buy Calculator. Also, take note of property taxes, insurance, cost of rent in your prospective neighborhood and other considerations like space and the freedom to renovate.

Truvaya Mortgage

STEP 2

Submitting
Documentation

PRE-APPROVAL

 

After determining how much you can afford to spend on your home, the next step is to get your Mortgage Pre-Approval. The pre-approval is based on your credit history, income and down payment reserves. The Mortgage Pre-Approval is an affirmation that an underwriting department has checked your credit and verified your documentation to approve a specific loan amount.

 

Truvaya makes it easy for you to get pre-approved in 90 minutes or less. Simply fill out our online application and reduce the amount of paperwork you’ll have to fill out later.

 

APPROVAL CHECKLIST:

Identification

 

Drivers License
Social Security Card

INCOME DOCS

 

2 Paystubs
2 Years of W2’s

PROOF OF FUNDS

 

2 Bank Statements

 

A Mortgage Pre-Approval is not a commitment to lend and additional documentation may be required.

Truvaya Mortgage

STEP 3

Upfront Underwriting /
Pre-Approval

FINDING YOUR HOME

 

After choosing the perfect home that suits your budget and preference, your Truvaya advisor will assist in preparing your mortgage application. Then as soon as you decide on an offer price, your real estate agent can forward your offer to the seller.

Truvaya Mortgage

STEP 4

Order Appraisal

CONGRATULATIONS! YOUR OFFER IS ACCEPTED.

 

At this point you will draw a contract based on the agreed purchase price, closing date and contingencies. Our team will prepare disclosures for your review based on property address, purchase price, selected term and program, rates, and more.

Truvaya Mortgage

STEP 5

Approved with
Conditions

ORDER A HOME INSPECTION

 

A home inspection is a small but necessary investment so that you can be sure that you are not purchasing a home that will cost you a lot of money and stress down the road. The home inspector will check if there is anything that is structurally or mechanically faulty with the home you are about to purchase.

Truvaya Mortgage

STEP 6

Final Underwriting

FINALIZE YOUR MORTGAGE APPLICATION

 

Finalizing the mortgage application is one of the most important steps in the home buying process. Our team at Truvaya will make sure this process will be quick, simple, and hassle-free for you. We are here to help you make the best decision when buying a home, selecting a loan amount, program and more. In this step, your dedicated Truvaya advisor will work closely with you, your real estate agent and attorney.

Truvaya Mortgage

STEP 7

Closing

FINAL MORTGAGE APPROVAL

 

You are just one step away from your dream home! As soon as your loan conditions, appraisal and inspection reports are complete, the lender will issue the mortgage commitment which guarantees the loan for your new home.