Laurie will begin the work of verifying all the
information you've provided.
This process can take anywhere from one to four weeks, depending on the
type of mortgage you choose, whether you're buying a home outside your local
community, or a host of other factors.
Within three business days after your signed application, Laurie will
give you a good faith estimate of your closing costs. You'll also get a
statement that shows your estimated monthly payment, the cost of your
finance charges and other facts about your mortgage.
Stay in touch with Laurie to
speed up the application process. Some home
buyers find the closing process to be one of the most intimidating aspects
of buying a home because it's so unfamiliar. If so, ask her what to expect
at your closing.
Once you receive your approval, and you're waiting to close on the sale
of the home, don't go on a shopping spree. The mortgage lender may do a
final check of your credit report or bank accounts to make sure you're not
assuming more debt or spending your cash reserves.