Buying Advice / Finance Tips

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A new home may be the largest single purchase you ever make. And Hafele Design & Construction, a design-build company, could save you time & money by working with you to create the home you’ve envisioned by eliminating costly planning stages & bringing estimates closer to your budget.

HOW TO BUY A HOME : The Banking Process

1. Make an appointment with your banker to pre-qualify.  To prepare for the pre-qualification, ask your banker to give you a list of things they'll need to help pre-qualify you.

2.  Look at homes and building budgets within your pre-qualified price range.  Agree on a sales or building contract, and sign an earnest money agreement.

3. Take the signed, earnest money agreement to the bank to begin the processing of your credit package.

4.  The bank with verify your available funds and the credit information that you supply.  The bank will order an appraisal, or appraisal from plans on the home you want.  Everything will be reviewed for accuracy.

5.  Your completed loan package is submitted to the bank's underwriter for loan approval.

6.  Your approved loan package is submitted to the bank's closing department when the home is ready or the notice of completion has been filed.  Someone from the closing department then contacts you to arrange the signing of the closing papers.

7.  Congratulations!  You are a new homeowner!