Step 8 – Submit Your Loan Application

When you and the seller finally agree upon the terms of the sale, take a copy of the purchase agreement that is signed by you and the seller to the loan originator who pre-approved you for a loan. The loan originator will begin to process your loan application.

You can only apply for one loan at a time. There is a cost associated with making a loan application so make sure you are ready to buy.

At the time of application you will be given a "Good Faith Estimate of Settlement Charges" and a "Truth in Lending Statement" which will state the interest rate you will pay.

Review the Estimate of One-Time Costs tool to help budget for the one-time and monthly costs associated with buying and owning a home.