01
Get Pre-Approved
Review Fairway's Document Checklist (linked below) Then complete your loan application and providing supporting income and assets documentation.
Meet with Mel so you know your budget for a home.
02
Search For A Home
With a trusted real estate agent, find the type of home that you're looking for within your budget.
03
Make An Offer
Once you have found a property you desire, make an offer! We know the anticipation in waiting to see if your offer has been accepted or not is excruciating but this is why getting pre-approved is essential. It will make your offer more attractive to a seller when you submit a pre-approval letter with your offer.
04
Purchase Price Negotiation
Once you and the seller agree on a price, a contract is created and accepted.
05
Earnest Money Deposit
A copy of the contract is sent to Melanie and the Taliaferro Team from your amazing realtor. You remit your earnest money and option fee.
06
Home Inspection
A home inspection is not required by the lender but is highly recommended. All inspections need to be completed within your option period.
07
Initial Loan
Loan estimates and federal/state disclosures are delivered to you via our secure Fairway portal.
You must then provide your intent to proceed to order services to move forward with your loan.
08
Appraisal
The Taliaferro Team will order an appraisal on your behalf. Your new home will be appraised by an independent appraiser to determine its value. The appraiser will take pictures of the inside and outside of the home and provide recent comparable sales. Once the appraisal is completed, the Taliaferro Team will then submit your appraisal to underwriting for approval as well as provide a copy to you.
09
Underwriting
An underwriter will review all loan documentation to ensure it adheres to the loan requirements set by HUD (United States Department of Housing and Urban Development) and determine if additional information will be needed.
10
Final Loan Approval
Once all information has been approved, your loan is moved to the "Clear to Close" status.
11
Closing Documents
Melanie and the Taliaferro Team will provide closing disclosures to you, you may then share them with your real estate agent, or if prior consent is received, we can share the disclosures with them on your behalf. Closing documents are sent to the title company for review and approval.
12
Funding
Melanie and the Taliaferro Team will contact you with the final figures and additional information PLEASE be sure to confirm the payment options for closing costs with the title company BEFORE sending. Typically funds are remitted via cashier's check or wire. Wire fraud is a serious issue so it is imperative to get wiring instructions verified directly by the settlement agent.
13
Final Closing Steps
Meet to sign closing documents at the title company, with a notary, or set up a virtual close with the Taliaferro Team. Bring a photo ID and complete payment of closing cost as directed. If you are purchasing a home, this is when you get your keys! On a refinance, this is when you would receive any cash out proceeds (if applicable).
14
Your Loan Is Funded!
CONGRATULATIONS - You are now a homeowner!
​
Do you have a photo of your new home you want to share?
Hashtag your photos #MelDoesMyMortgages
We love to see happy clients in their new spaces!
