Your Path to Homeownership
A Step-by-Step Guide with LoansByEmmett
Embarking on the journey to homeownership or looking to refinance can feel complex. I'm Emmett Clark, and my goal is to make this journey as clear and stress-free as possible.
Start Your JourneyStep 1: Pre-Qualification & Initial Consultation
Your homeownership journey begins with a conversation! We'll discuss your financial goals, what you're looking for in a mortgage, and I'll help you understand your borrowing power.
- Discuss your financial goals and mortgage needs
- Soft credit pull (does NOT impact your credit score)
- Get a realistic picture of what you can afford
- Identify any potential areas to address before formal application
💡 Think of the soft credit pull as a helpful sneak peek!
Step 2: Formal Application & Automated Underwriting
Once you're ready to move forward, we'll complete a formal loan application. This is where we gather more detailed information about your finances.
- Complete detailed loan application
- Hard credit pull (comprehensive credit review)
- Automated underwriting analyzes your financial profile
- Identify the best loan programs for your situation
💡 The automated system quickly matches you with the best loan options.
Step 3: Initial Disclosures & Document Collection
You'll receive important documents outlining your loan terms and estimated costs. Then we'll collect supporting documents for underwriting review.
- Paystubs (most recent 30 days)
- W2s (past two years)
- Bank statements (most recent 2 months, all pages)
- Self-employed: 2 years tax returns + year-to-date P&L
💡 Self-employed = 25%+ ownership in a business, including partners receiving distributions.
"Emmett made the refinance process incredibly smooth. He was always available to answer my questions and explained everything in a way I could easily understand. I wouldn't go anywhere else!"
— Sarah M., Repeat Client
Step 4: Appraisal & Underwriting Review
Your file moves into full underwriting review while an appraisal is ordered. The appraisal ensures the property value aligns with the loan amount.
- Independent property appraisal ordered
- Full underwriting review of your file
- Underwriter may request additional documentation
- I'll work closely with you to provide anything needed
💡 Additional requests are normal—we'll handle them together promptly.
Step 5: Closing with Title & Escrow
Once your loan receives final approval, we move towards closing! This involves working with title and escrow companies to finalize the transaction.
- Title company ensures clear property title
- Escrow company holds funds and documents
- Final loan documents prepared
- Schedule your closing appointment
💡 Title and escrow protect both you and the lender during the transfer.
"As a first-time buyer, I thought the whole process would be overwhelming, but Emmett made it easy to understand and was incredibly supportive. I couldn't be happier!"
— Jessica L., First-Time Homebuyer
Step 6: Welcome Home!
The big day arrives! Sign your final closing documents, send your down payment and closing costs, and receive word that escrow has closed.
- Sign final closing documents with notary
- Send final funds for down payment & closing costs
- Escrow closes and ownership transfers
- You're officially a homeowner!
💡 Congratulations—you've crossed the finish line!
Special Considerations for Self-Employed Borrowers
If you own 25% or more of a business, you are considered self-employed for lending purposes. This includes partners who receive distributions and hold 25% or greater ownership.
For self-employed clients, we will require:
- Two years of personal tax returns
- Two years of business tax returns (if applicable)
- Year-to-date profit and loss statement
Don't worry if your situation seems complex—I specialize in finding solutions for self-employed borrowers!
Ready to Start Your Journey?
At LoansByEmmett, I am committed to guiding you every step of the way. From our first conversation to handing you the keys, I'm here to ensure a transparent, efficient, and successful homeownership experience.