Step 3 -  Find a real estate agent

 House hunting can be a very exciting time.  Being pre-approved you will know the price range that you qualify for.  You can work with your real estate agent to find a home that you would like to purchase.  Being pre-approved your offer will be considered a stronger offer than an offer that is not pre-approved.         

Step 2 -  What loan program works for you

 There are many loan options available from the seasoned home owner and the first-time buyer.  Today's mortgage programs include traditional conventional, jumbo, USDA, homepath and FHA loans. These programs are available in 30, 20, 15, and 10 year fixed terms as well as adjustable and hybrid loans such as a 10/1, 7/1, 5/1 ARM or 3/1 ARM's. If you're interested in lower payments, an interest-only loan may be a good option for you. With today's mortgage options you need expert advice to help you choose the right loan for your situation.

Step 5 - Review your loan application  

 When your purchase offer being accepted, you will want to review your loan application. Your mortgage banker will need to know the length of your escrow, you will need to confirm your loan program and update any outdated documentation.  

Step 4 - Home Inspection and Appraisal 

 Upon your purchase offer being accepted, in most cases, you will have 17 days to complete your diligence. During this period you will need to complete your Home Inspection and Appraisal.  The Home Inspection will point out anything not working correctly or in need of repair.  The Appraisal will confirm the property value so that you know you if you are paying a reasonable price.     

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  • Step 1 - Get Pre-Approved
  • Step 2 - What loan program works for you
  • Step 3 - Find a Real Estate Agent
  • Step 4 - Home Inspection and Appraisal​

Step 7 - Sign your loan docs

 At this point you are almost done.  Your mortgage banker will review your loan with you before your loan doc signing appointment, this way you will fully understand your loan details before you sit down with the notary.  Doc signings usually take place at your escrow office.  Your loan docs will be returned to us for final review and if anything is needed we will let you know.   

Get started online or call 800-961-6123 to speak with a Fully Licensed Mortgage Professional

The following steps will help you to be prepared and so you know what to expect when buying a home.   

Step 8 - Fund your loan

Upon final review of your executed loan docs and all documentation is supplied your loan will fund, generally 2 to 3 days after you have signed your loan docs.  Some counties will not allow a same day recording which means the title to the property will actually transfer the following day after funding.  Once the property is fully recorded you will receive your keys.     


Get started online or call 800-961-6123 to speak with a Fully Licensed Mortgage Professional

​Step 1 -  Get Pre-Approved

 A pre-approval is beneficial in many ways. First, it gives you an idea of what loan amount and purchase price you can afford. Second, it strengthens your offer to the seller and the seller's real estate agent. Third, by getting pre-approved, you're getting a jump start on the full approval process. Once you find your home and open escrow, you're just a few steps away.

  • Step 5 - Review your loan application
  • Step 6 - Lock your rate
  • Step 7 - Sign your loan docs
  • Step 8 - Fund your loan 

Home Buying Process

  Buying a home is a very exciting time, especially if you are a first time buyer.  With this           excitement there is also a high level of stress.  Most home buyers will purchase a new             home roughly every seven years so the process can feel overwhelming as the process is         always changing in regards to regulations, disclosures and the loan process.  Many buyers do not realize that there is a lot of prep work to do before you start looking fro a home. Did you know that real estate agents will favor a buyers with a fully under written pre-approval?

Step 6 - Lock your rate 

 Locking in your rate will fix the rate for the loan program of your choice.  You will need to speak with your mortgage banker to review all of your rate options.  Once your rate is locked you will receive your rate lock conformation so you have your rate lock and fees in writing.  MN Capital does not charge a rate lock fee nor should any consumer pay a rate lock fee.