Financing
Demystifying Home Loans
If you haven’t experienced it before, the home loan process can feel overwhelming, but our agents will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, we partner with some of the best lenders in the industry, and we’d be happy to introduce you, so you’ll be taken care of.
Get Pre-Approved
Before you start looking for a home to buy, it’s a good idea to meet with your loan originator to get pre-approved for a loan amount. At this stage, the lender gathers information about income, assets, and debts of the borrower (you) to determine how much house you may be able to afford. This includes a credit report, W-2 forms, pay stubs, Federal Tax Returns, and recent bank statements. There are a variety of different loan programs, so make sure to get pre-qualification for the specific programs that best suit your needs.
Leo Anzoleaga Group
Leo Anzoleaga
About Me
Leo Anzoleaga is a known connector in the greater Washington, D.C. area real estate market with 20 years of mortgage experience. He has a knack for pointing to the best how available so agents, buyers, and homeowners can reach their goals without sacrificing who they are along the way. As a Certified Mortgage Planning Specialist (CMPS®), Leo and his team guide each client through their personalized mortgage plan within the context of their short- and long-term goals. Programs such as the Excellent Loan Program and Mortgage Under Management offer clients the best price + best advice + best mortgage experience before, during, and after they close on this loan. Leo has helped thousands of families finance their properties, coached hundreds of real estate agents through business development hurdles, and reached hundreds of thousands of DMV residents by highlighting agents through Leo’s Circle. He has contributed to multiple local publications, including the Washington Post, Washington Business Journal, Scotsman Guide, and Richmond Times-Dispatch.
Application & Processing
What happens when a loan goes "live"
When you find property you’re ready to buy, your lender will help you complete a full mortgage loan application, and talk you through the various fees and down payment options. The application is submitted to processing, where the documents are reviewed and appraisals and title examination are ordered. Then the loan is sent to an underwriter, who reviews and approves the entire loan if it meets compliance.
Closing
Signing and Finalizing the deal
Don’t be surprised if you’re asked for additional documentation or clarification throughout the process. Once your loan is approved, don’t forget to set up homeowners insurance. Your documents will be sent to the title company, where you’ll sign for the new home and pay any remaining costs. Then the loan is recorded and you get the keys. Congratulations, happy homeowner!
