Mortgage Home Purchase Loans without the Hassle!

  1. After Winning a Contract
    1. Schedule a call or zoom to finalize the interest rate and answer any questions.
      1. Schedule here: https://go.oncehub.com/MikeDelPreto
    1. Complete Home Inspection
      1. Single-family & multi-unit properties: Best to complete inspection before scheduling the call to ensure no potential deal breakers.
      2. Condos: The call can occur before or after the inspection, as deal breakers are less likely.
  2. Receive 'Next Steps' email from team@delpretoteam.com
    1. Instructions for rate lock disclosures.
    2. Updated Final Figure Estimate worksheet (save for reference before closing).
  3. Loan Setup Begins
    1. Appraisal ordered (if applicable).
    2. Verification of employment & homeowners insurance requested.
    3. For condos - to issue condo warranty needed for clear to close.
      1. Condo questionnaire requested.
      2. Master insurance policy requested.
  4. Team Processor request any personal documents and/or information needed for Final Approval.
  5. Underwriter Issues Clear to Close (CTC)
    1. All parties notified.
    2. Guidance provided on funds to close and closing logistics.
    3. Schedule a pre-closing call (two days before closing) to review funds to close & final steps.
  6. Receive & Sign Initial Closing Disclosure (ICD) - MUST Be Signed 3 Days Before Closing
    1. Our lender figures are the only figures that are final. All other figures are still a work in progress and will be updated as the closing date approaches.
  7. Closing Scheduled at Title Company
  8. Calendar invite sent with closing time and location.
  9. Closing Documents Sent to Title Company by A&N. Closer
  10. Pre-closing Call (2 Days Before Closing)
    1. Review final figure, getting funds to closing, and signing process.
  11. Receive Final Figure Estimate & Wire Funds to Title Company – (read below carefully and plan accordingly)
    1. Wire transfer should include a small cushion. (May be allowed to use a cashier's check, depending on the amount.)
    2. Wire Transfer Security:
      1. *IMPORTANT: Due to email hacking and wire fraud wire instructions must be acquired from the title company. Best practice is calling the title company to request the wire instructions. Once received, call title company to have them read you wire instructions and confirm correct on your end.
    3. Wire Timing:
      1. If closing before 12 PM, send wire the day before (confirm bank's cutoff time).
      2. If closing after 12 PM, send wire the day before or morning of closing.
    4. Any overage funds will be refunded via cashier's check at closing.
  12. Sign Closing Documents at Title Company.
  13. Loan Funded - You Now Own the Property! 🎉
  14. Homebot Account Created
    1. A homeowner dashboard to track your real estate wealth that is paid for by the Del Preto Mortgage Team.
    2. Monthly digest sent with market insights and financial tips.
Mortgage Home Purchase Loans without the Hassle!
30 years
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Do I Qualify?

To determine if you qualify, lenders review your total monthly debt (proposed housing payment + regular monthly debt) as a percentage of your total gross monthly income. The acceptable percentage (DTI) will vary depending upon the specific loan program for which you apply.

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