Grove Mortgage Home Loans in San Antonio, Texas
Celebrating 10 years of Texas Mortgages! - 210-656-1134

Home Buying Process

Apply to Buy or Refinance a Home

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Getting started at Grove Mortgage is as simple as starting your application online or giving us a call.

The home buying process can seem intimidating at first but we are here to make sure that it goes smooth and straightforward for you. Getting started is as simple as filling out our quick and secure Free Quote form or give us a call.

Preapproval

Getting pre-approved is important because it gives you an estimate of how much home you can afford and what the monthly payments will be. Once completed we can provide you and or your Realtor with a Conditional Qualification Letter, to present with your offer to the seller which lets them know your serious and ready to purchase.

Processing

Processing’s primary job is to verify all of the information you have provided on your mortgage application. This means checking your income verification (W-2s, pay stubs and/or tax returns), assets (checking and savings accounts), and outstanding debts (car and student loans)

Underwriting

Once you're under contract to purchase a home, your loan documentation will go to an experienced underwriter for review. The underwriter will verify financial information and other documents and request additional items as needed.

Appraisal

Lenders always require a home appraisal before they will issue a mortgage, they do this to protect their investment. The most important component in arriving at the value is what is called comparable sales (or comps in short). During an appraisal, an expert evaluates your home and property and gives you an estimate on how much it is worth.

Closing

The closing (also called settlement) will usually take place at a Title Company and that is where you'll sign paperwork to finalize your new loan. You should bring three things to closing: two forms of identification and a cashier’s check (if required).

Start your Free Quote

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Are you wanting to Purchase or Refinance?

No Cost, No Credit Check, and No Obligation!

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Owning your own home is a very big part of the American Dream.

Purchasing has many advantages verses renting, especially for first-time home buyers:

  • Tax benefits - Enjoy the write-offs that are available at tax time; mortgage interest is tax deductible.
  • Build wealth - As your equity increases so will your wealth.
  • Stabilize your payments - Monthly payments are relatively steady if your loan has a fixed interest rate, while your landlord can increase the rent.
  • Have a secure place for your family to live - A home provides a permanent place where your family can live and grow, and you can decorate or expand a house the way you like to create your dream home.
  • Gain a sense of community - Homeowners often are more involved in the well-being of their communities; many homeowners work together for better schools and less crime.

Prequalified vs Preapproval

 Understand the differences between Prequalification and Conditional Approval here and get started today. Your real estate agent will often request that you get prequalified or conditionally approved for a mortgage before viewing houses, so they can help you find a home that meets your actual budget.

A mortgage prequalification is an estimate of how much a lender would be willing to loan you. Once you have given an estimate of your income and assets, then we will provide you with a written statement showing your maximum loan amount based on your debt-to-income ratio that you should qualify for.

A mortgage preapproval is where we will complete a full loan application, obtain and review a copy of your Credit Report, review your income statements and or tax returns, information about the property that you’re interested in, what your goal is on the property, suggest what would meet your goals and give you a pre approved letter that you can present to the seller with your offer.

Presenting a preapproval letter with your offer to the seller has become very important in today’s market. The letter lets the seller know that your serious and that you have started the loan process and can usually close quicker than someone one without one, and with less surprises! It allows the seller to feel more comfortable and more confident in their decision to sell you the property.

Closing Cost for buying your home in Texas.

Generally costs between 3% and 6% of the loans principal. Closing costs can be divided into three main categories:

  • Lender fees: Fees can include origination, points, application, credit report, and appraisal.
  • Third-party fees: These fees vary by state and the actual company you select to close your loan. They can include fees for closing, title exam, title insurance, and recording.
  • Prepaid items: These are items collected at the time of closing but are not really considered costs. They include items you pay whether or not you refinance (for example, interest, taxes, and hazard insurance).

Mortgages Made Simple

Answer a few easy questions about your finances and get preapproved today!

We are in San Antonio, Texas and proudly boasts an A+ rating from the
Better Business Bureau. Better Business Bureau

Every client's situation is different and handled with a unique, personalized approach. As a San Antonio, Texas based Mortgage Broker we focus on getting the right loan at the right rate for our client and it allows us to secure often hard-to-find financing.

Have a question about your particular mortgage goal, give us a call and speak with a mortgage specialist.

210-656-1134

Grove Mortgage Home Loans of San Antonio