MORTGAGE FACTS FOR BUYING A
HOME IN TOWSON

Buying real estate in Towson and getting a mortgage loan in Maryland is not hard for most folks. However, for first time home buyers in Baltimore County, Real estate in Maryland in general is expensive compared with many other areas in the United States. Buying a home in Towson and getting a mortgage loan, in Maryland is even more complicated when home buyers don't understand the home loan process. We'll try to make is as easy as possible. However, borrowing Thousands or Hundreds of Thousands of Dollars is not a minor matter. Borrowing money is a very serious matter and we treat it as such. So, with some education, mortgages can be made easy to understand. We can help. We sell many homes every year and we help our real estate buyers with the mortgage process from pre-qualification through settlement.

We will describe the Maryland mortgage process, but first, you should understand what a mortgage is and how it works The procedure will vary little from lender to lender, but since the procedure is basically simple, you just need to understand:

WHAT KIND OF DOCUMENTATION WILL I NEED FOR MORTGAGE APPLICATION?
Generally, the documents needed will verify your income and debt. The list below is the minimum for VA, FHA and conventional loans.

Past two years W-2 Forms Current address Employment addresses Recent bank statements Name and address of current creditors Social Security numbers Certificate of Eligibility for VA buyers

If you are self employed, you will need two years tax returns and a profit and loss statement, simplified. Don't forget, your agent will be available for consultation when you have a question. Relax and enjoy your home search.

Your lender will have a copy of the Contract of Sale for the home in Maryland you are purchasing. Your lender will process the loan and have the mortgage approved prior to the date of settlement date in the Contract. The lender will send the proceeds of your home loan to the settlement company along with instructions to the title company about what charges are and the title company will conduct the settlement meeting. You sign the documents accepting the loan, the sellers signs the deed over to you, you get the keys to your newly purchased home.

Thousands of Maryland home buyers get loans every day and we'll make sure you get the best loan for your money. 

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