Congratulations on your decision to buy a new home! There are many important things to consider throughout the process, especially if you're a first-time homebuyer. Here's some information that will keep you on track.

Once you select Arlington Financial to obtain your home loan, you'll be amazed at how quickly and simply the loan process moves. Before you know it, you'll have a mortgage that suits your lifestyle and saves you money.

Throughout the loan-application process, we provide you with regular updates. You can also e-mail us with questions or new information. And if you want assistance, a mortgage expert who can answer questions is just a phone call away.

Here's an overview of the loan-application process.

Note: The below process assumes the borrower(s) will be approved for the loan.

STEP ONE -- Determine how much you can borrow

Click on the "Pre-Qualification" link in the Home Buying Center to find out how much home you can buy, even before you begin looking. Once you've answered a few simple questions, we'll calculate your buying power, based on standard lender guidelines.

STEP TWO -- Pre-Qualify and save money

To complete the pre-qualification step, click on the Get Pre-Qualification letter button. You'll need to supply some brief information about employment, assets, etc. We'll contact you for authorization to obtain your credit report. Once we've reviewed this information, we'll issue your Pre-Qualification Letter, which gives you the clout of an "all-cash" buyer. As you begin looking for a home, we'll begin looking for the best loan to meet your specific needs. Your Real Estate Agent will use your Pre-Qualification Letter to negotiate the best deal for you.

You'll also be asked to enter a "User ID", so throughout the loan process you can re-access information you have already provided. This saves you from having to input the same data several times.

Important Note: Do not allow anyone to obtain free credit reports for you. These reports will have to be obtained later anyway, which may lower your "credit-risk score"! This score is extremely important to your overall credit evaluation in the underwriting process for your mortgage loan.

STEP THREE -- Apply Now! Getting started is easy.

When you've selected a property and have a contract with the Seller, the next step is to complete your loan application, which can be done easily through our website. Click on the Shop Rates menu selection to learn more about available loans and current rates, or click on Apply for a Loan to start your application.

At the appropriate time we'll order a property appraisal for you.

STEP FOUR -- Your Loan is Approved and Funded

Your Real Estate Agent or the Seller will designate an Escrow/Title Company to handle the funding of your loan, along with many other factors which make your purchase go smoothly.

We will coordinate with the escrow team and you'll sign the final papers at their office.

Simple, Straightforward, Cost Effective, and FAST!

In General....

A home purchase may be your largest financial transaction to date, so it's important to make the right decisions and to keep an eye on the details. With the assistance of your Real Estate Agent and Loan Officer, it should be an efficient, pleasant, and ultimately rewarding experience.

Count On Your Real Estate Agent To: Preview available homes to weed out those that are overpriced, or undesirable in some other way. Present the homes that suit your needs as you've defined them. Help you determine the difference between a "good buy" and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future. Negotiate the best deal for you. With a Pre-Qualification letter from Arlington Financial in hand, your Real Estate Agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the Seller, and may make the difference between the Seller accepting your offer or someone else's -- even if your offer is lower!

Count On Your Mortgage Broker and Loan Officer To: Assist you in selecting the best loan to meet your personal situation and goals. (This single decision can save you thousands of dollars throughout the years!) Keep you informed of your loan status throughout the entire process. Keep your Real Estate Agent informed of our loan progress (Note: your personal information is always kept confidential between you and Arlington Financial; only deal points and progress are shared). Get the appropriate loan for you at the best rates and fees. This will save you significant money "up front" and throughout the years to come.

Count On Yourself To: Keep your Real Estate Agent informed of any questions or concerns as they develop. Keep the process moving by providing documentation and decisions as soon as reasonably possible. By doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention. Enjoy purchasing your home, but do remain objective throughout -- to make the business decisions that are best for you. Make sure you are pre-approved as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.