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What Is the Home Purchase Process?

4 Minute Read

Getting a mortgage can be a stressful process, especially if you’re a first-time home buyer. That’s why at Churchill Mortgage we emphasize communication.  It is our mission to help you save time and money, and avoid the common pitfalls that many first-time home buyers experience when they don’t get expert advice in advance.

To make sure you feel confident through all stages of your mortgage experience, your Home Loan Specialist will work with you to build a smarter mortgage plan that guides you every step of the way.

Here’s an easy-to-understand view of the home loan process.

Step 1: Origination

Loan origination is the process of applying for a home loan. Once you get your loan estimate (which tells you the important details about the loan you’ve requested) you’ll decide whether you want to move forward with processing or not.

Step 2: Processing

Once your application has been submitted, your mortgage will begin to be processed. The processor will order your credit report, title report, and appraisal and you’ll be asked to:

  • Gather requested documents for asset and employment verifications
  • Request third-party services such as the home inspections and surveys

Step 3: Underwriting 

Once the processor has put together your file with all of the documentation, it is then sent over to underwriting for final approval.

  • The underwriter will figure out if more information is needed
  • Once all conditions are approved, the underwriter issues the “clear to close” 
  • Keep in mind, a lot of this can be done earlier in the process if you use up-front underwriting by becoming a Churchill Certified Home Buyer

Step 4: Closing

Once your loan is approved, your file is transferred to the closing department where your closing disclosures will be process, your closing day will be scheduled, and your loan is funded.

At the closing of your home you should:

  • Bring a cashier’s check for your down payment and closing costs, if proof of insurance
  • Review all of your final loan documents
  • Sign the loan documents

If you have questions about the process of purchasing a home, let us know. We’re here to help! Or if you’d like to apply online and quickly start the process, we’ll have a Home Loan Specialist get back to you about your application status right away.

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By submitting this form, I/we agree to your Privacy Policy Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive text messages sent by an automatic telephone dialing system. Consent to these terms is not a condition of purchase.

- Es probable que su transacción de préstamo hipotecario suceda en inglés. Por medio de esta pregunta, solicitamos información para determinar si existen comunicaciones disponibles a su servicio, en su idioma preferido. Sírvase tener en cuenta: posiblemente NO hay comunicaciones disponibles en su idioma preferido.

Su respuesta NO afectará de forma negativa su solicitud hipotecaria. Su respuesta no quiere decir que el prestamista u otros participantes de préstamos hipotecarios acuerdan en comunicarse o proveerle documentos en su idioma preferido. Sin embargo, puede que les permita ayudarle o dirigirlo a otras personas que puedan colaborarle.

Puede que los servicios de asistencia linguística y recursos estén disponibles a través de agencias de orientación en relación a viviendas, aprobadas por el Departamento de Vivienda y Desarrollo Urbano de EE. UU. Para ubicar una agencia de orientación en tema de viviendas, comuníquese con una de las siguientes agencias federales gubernamentales:

Departamento de Vivienda y Desarrollo Urbano de EE. UU. (HUD, siglas en inglés), al (800) 569-4287, o en línea, www.hud.gov/counseling

Oficina para la Protección Financiera del Consumidor (CFPB, siglas en inglés), al (855) 411-2372, o en línea, www.consumerfinance.gov/find-a-housing-counselor.

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