Buying A Home in 7 Steps

Start The Process:

This step is the most overlooked part of the entire process. When looking to buy a home, many families start with a real estate agent. While they can help you look for and negotiate a home, they do not know if you even qualify for a mortgage. Most Realtors® know this and will ask for a pre-approval letter prior to starting your home search.

In this step of the process, you will:

  • Speak with a Summit loan officer
  • Review credit report, financial goals, and personal goals
  • Assess how much you qualify for
  • Issue you a pre-qualification/pre-approval letter, contingent final underwriting approval

Find Your New Home:

With a pre-qualification/pre-approval letter in hand, it is time to find your dream home. If you already are working with an agent, we will be communicating with them about your readiness and get them anything they need to start the home search. If you do not already have an agent, we will have a referral for the perfect one ready. We only work with the best agents and have no trouble helping you find someone sure to represent you diligently.

  • Find the perfect Realtor® to represent you and your family
  • Search for your new home
  • Tour properties and open houses
  • Put in an offer on your dream home and begin the negotiation process
  • Get a signed purchase agreement

Finalize Loan Application:

Once you have found your dream home and have an accepted purchase agreement, it is time to start the mortgage process. You will:

  • Meet with your loan officer team
  • Collect appraisal fee after 3 days
  • Answer any outstanding questions
  • Finalize timelines, and set expectations for the rest of the process


Processing will help build your loan file to speed through underwriting. They will:

  • Finalize rate and program
  • Verify assets, documentation, and employment
  • Finalize homeowner’s insurance
  • Order home appraisal
  • Package and submit loan file to underwriting


For most, this is the most intimidating part of the process. However, underwriting is nothing to be scared about. They are here to verify everything that has been submitted and ensure it all checks out. It is common for them to come back and ask for what is called “conditions”. Working with the team to get these will help your pile get fast-tracked for closing. Underwriting will:

  • Review the loan file
  • Ask for any conditions after giving initial approval
  • Issue final approval conditions have been satisfied

Sign Documents:

Underwriting has given their final approval! You are now in the final stages of the mortgage process. This includes:

  • Loan documents are sent to escrow
  • Title/Escrow will provide final costs needed for closing
  • You will review and sign the final documents
  • Loan is funded
  • Home is recorded

Get Your Keys:

You are now a homeowner. While we pride ourselves on guiding you through this process, we understand that it is no easy feat. After your loan funds and records:

  • Your Realtor® will give your keys
  • You will make the first payment
  • Your loan may be sold to a new servicer
  • Your Summit Loan Officer will keep in touch to make sure you are getting the most from your current mortgage

Interested in speaking with someone who can take you from Step 1 to Step 7? Click here and schedule an appointment with one of our experienced loan officers.