Home Purchase Basics
A home purchase may be your largest financial transaction to date. With the assistance of your real estate agent and a Bank of Ann Arbor Mortgage Loan Officer, it will be an efficient, pleasant, and rewarding experience.
Count on Your Real Estate Agent To:
Preview available homes to eliminate those that are overpriced, or undesirable in some other way.
Present homes that suit your needs as you've defined them.
Help you determine the difference between a "good buy" and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.
Negotiate the best deal for you. With a Pre-Qualification letter from us in hand, your Real Estate Agent will be able to demostrate that you are a qualified and capable borrower. This will strongly influence the Seller and may make the difference between the Seller accepting your offer or someone else's -- even if your offer is lower!
Count on Your Bank of Ann Arbor Mortgage Loan Officer To:
Provide your Pre-qualification letter to be used during negotiations. (Note: Making an offer with a Pre-Qualification letter demonstrates that you are a qualified and capable borrower).
Assist you in selecting the best loan program to meet your personal situation and goals, with the most competitive rates and fees.
Keep you informed of your loan's status throughout the entire process.
Work with your Real Estate Agent and keep them informed of our loan's progress (Note: your personal information is always kept confidential; only your loan's status and closing schedule will be shared).
Count on Yourself To:
Keep your Real Estate Agent informed of any questions or concerns throughout the process.
Provide requested documentation and decisions as soon as reasonably possible. Providing documentation early in the process helps ensure many of the details are taken care of before any last-minute details arise that may require your attention.
Enjoy purchasing your home! Remember, it is important to remain objective in order to make the best decision for your future.
Make sure you are pre-qualified as early as possible. This puts the power of financing behind you so you can concentrate on finding your home.