Home loans come in many shapes and sizes. At Lowcountry Home Loans, we tailor our loans to meet your needs. 

The second step of the home buying process is where you will receive your home loan pre-approval letter. To issue the pre-approval letter, we will need your supporting documentation & select the right loan. 

Second Step:

Supporting Documentation:

Click on the following link for initial items needed - Checklist. If underwriting determines we need anything else, we will reach out to your personally. 

Selecting The Right Loan:

There are many different loan products which is why it is crucial to use an experienced home loan expert who can help you select the right loan and streamline the home loan process. Click on the following link to get a quick overview of our Loan Programs. 

By carefully considering the above factors and seeking our professional advice, you should be able to select the one loan that matches your present condition as well as your future financial goals. 

This is where the fun begins! Now that you know what you can afford, it's time to start house hunting.

The third step in the home buying process is where you will select your real estate agent, identify the home that meets your criteria, and make an offer. 

Third Step:

Select Real Estate Agent: 

If you have not selected a real estate agent (realtor) already, then this is where you will pick your agent. It is highly recommended that all buyers, not just first-time home buyers, use a real estate agent given the current housing market. If you do not have an agent or do not know where to start, just ask, we know many real estate agents across South Carolina.

Identify Your Home:

Looking for a home to buy is very different than looking for a house to rent. For one, there are a lot more people looking to purchase than to rent, so there is a lot more competition. This is where having an experienced real estate agent will be a huge benefit. Your real estate agent will send you properties that meet your criteria, as well, schedule and show you properties in-person. 

Alternative ways to search for your new home:

- Search Online
- Visit Open Houses
- Visit New Subdivisions & Tour Model Homes 
- Get Out & Drive Around 

Make An Offer:

Once you identify the right house, the next step is to make an offer. This is where, yet again, an experienced real estate agent will assist you in making an intelligent and informed offer. If the seller of the house likes your offer, he/she will accept your offer and you will put down a small deposit ("earnest money") to hold the offer until we close.

This is where we finalize the home loan and confirm the house is right!

The fourth step consists of several different items we need to confirm before we can close. 


Fourth Step:


Inspection: 
While inspections are optional, we highly recommend them to confirm the house is in solid working order (structural, plumbing, electrical, etc). Your real estate agent will have a list of inspectors you can choose from, if you decide to have an inspection. We recommend having the inspection prior to the appraisal to ensure the house is solid before ordering the appraisal. 

Appraisal:
Appraisals are required and not optional. The appraisal tells us how much the house is worth which ensures we are financing the house at the right price. 

Income/Employment Check:

We will confirm you are still employed with the same employer 10 days before and 10 days after closing. Don't quit your job! 

 

Credit Inquiry: 

We will inquire to see if you have made any credit purchases that may effect your ability to repay the home loan. Do not open any new credit accounts, credit cards, purchase a new vehicle/boat, or co-sign prior to closing. Moral of the story, purchase and close on the house before buying anything else! 

 

Verify Down-Payment: 

We will verify you have the required down-payment needed for closing in your bank account prior to closing. Do not deposit large cash deposits while attempting to purchase a home. 

 

Title Attorney (Closing Attorney):

The attorney will confirm no one else is claiming the house as theirs and there are no tax liens on the property. Not sure who to use? Just ask, we know title (closing) attorney's across South Carolina. 

 

Select Homeowners Insurance: 

Just like a car, we require homeowners to carry insurance for homes we finance. If you are not sure who to use for insurance, just ask, we know insurance agents all over South Carolina. 

This is where all your patience and dedication payoff! 

The last step of the home buying process ends at the closing attorney's office where you will receive keys to your new house!

Fifth Step:

Schedule Closing:
This is usually scheduled at the beginning of the home buying process but can be changed at any time of the loan transaction. The scheduled closing is where you will meet with the closing attorney to sign the final home loan papers. 

Wire Funds To Closing Attorney or Bring Certified Check To Closing Attorney's Office:
If your funds to close are greater than a certain amount, you will need to wire your funds for closing (down-payment and any closing costs) prior to arriving at the attorneys office. If the funds to close are not greater than a certain amount, you can bring a certified check to the closing attorney's office. 

Sign Final Home Loan Documents:
Bring your good pen! This is where you will sign the final home loan documents and the deed to your new house!

Get Keys:
After you sign the last document, closing is over, and seller will give you the keys to your new house! 

Congratulations, you are now a new home owner and we thank you for trusting your home loan financing needs with Lowcountry Home Loans, LLC!