How to Handle the Homebuying Paperwork Overwhelm in 2023?

Premier Nationwide Lending

There’s no place like home, there’s no place like home! Words spoken by a beautiful young Judy Garland in the Wizard of Oz but not as easy as clicking 2 red shoes together. For most people, the biggest investment of their adult life is a home. The surge of social media and YouTube consumers are treating this potential life-changing, equity building purchase like a DIY project and the result can be financially catastrophic and a yellow brick road of disappointment.

Purchasing a home is a legal process because you are entering into a binding contractual agreement. The most important advice is to seek and use an experienced LICENSED professional in the areas of Mortgage, Real Estate, and Title Companies. These skilled professionals make sure the paperwork is reviewed and signed correctly. You would not get heart surgery from someone that did not have the proper skill and education. Can you imagine someone learning the details of all the potential complications of that surgery by watching YouTube? The same is true about navigating homeownership, be it your first home or investment.

The start is a Uniform Residential Loan Application. The correct completion of this document sets the stage for everything else going forward. The standard for lending is the ability to repay. Providing correct Social Security, Birthdate, income, and assets are crucial. Texas is a community property state, so the correct marital status is imperative. This means the property is equally owned by both spouses. You can have a Non-Purchasing Spouse but both will still sign the Deed of Trust on a primary home purchase. Withholding information will not result in a successful smooth transaction.

Somewhere over the rainbow is a beautiful home for you and your family, let us provide the paperwork advice and our best referral partners to make sure. For questions, visit the website!

Similar Posts