Buying a Home
What to actually expect as a first-time buyer
Buying a home is one of the biggest financial decisions you'll make, and most of the stress comes from not knowing what happens next. Here's the real process, step by step, plus the rules that protect your approval once you're under contract.
The Process
From pre-qualification to keys in hand
Every purchase moves through the same core stages. Knowing what's coming next takes most of the anxiety out of the process.
01
Get Pre-Qualified
Tell us about your income, credit, and goals. We'll tell you honestly what price range fits, so you can shop with confidence instead of guessing.
02
House Hunting
Work with a real estate agent to find homes in your range. A pre-qualification letter in hand makes your offers more competitive.
03
Offer & Contract
Once an offer is accepted, you sign a purchase contract and put down earnest money — this is when your mortgage application officially moves into full underwriting.
04
Loan Application & Documentation
We'll ask for pay stubs, bank statements, tax returns, and ID. Respond quickly to document requests — this is the single biggest factor in how fast your loan moves.
05
Home Inspection & Appraisal
A licensed inspector checks the home's condition for your own protection, and a licensed appraiser confirms the home's value for the lender. Both are ordered early to avoid delays.
06
Underwriting
An underwriter reviews your full file against the loan program's guidelines. This is where most "conditions" (extra documents) get requested — answer them fast.
07
Clear to Close & Closing Day
Once underwriting signs off, you're clear to close. You'll review your final numbers, sign your closing documents, and get the keys.
Protect Your Approval
The Buyer's 10 Commandments
Between the day you go under contract and the day you close, your financial picture gets checked again. These are the ten rules that keep a strong approval from falling apart at the last minute.
01
Thou shalt not change jobs, become self-employed, or quit thy job
Income and employment are verified again right before closing. A job change — even a good one — can restart or derail your approval.
02
Thou shalt not buy a car, truck, van, or any other vehicle
A new auto loan changes your debt-to-income ratio and can be discovered on a final credit check before closing.
03
Thou shalt not use thy credit cards excessively or let current accounts fall behind
New charges and late payments both show up on the credit re-check lenders run right before closing.
04
Thou shalt not spend money set aside for closing
The funds you documented for your down payment and closing costs need to still be there — spending them can delay or derail your closing.
05
Thou shalt not omit debts or liabilities from thy loan application
Undisclosed debts that surface later can require last-minute re-underwriting, or worse, denial.
06
Thou shalt not buy furniture on credit for the new home — yet
Even "no payments for a year" furniture financing is a new debt lenders can see. Wait until after you close.
07
Thou shalt not apply for new credit of any kind
Every credit inquiry can lower your score slightly and raises questions during underwriting. Hold off until after closing.
08
Thou shalt not make large, undocumented deposits into thy bank account
Large deposits need a paper trail. Talk to your loan officer before moving money around, even from a legitimate source like a gift or bonus.
09
Thou shalt not change bank accounts
Switching banks mid-process means re-documenting your assets from scratch. Stick with what you've already provided statements for.
10
Thou shalt not co-sign a loan for anyone else
Co-signing makes you responsible for someone else's debt in the eyes of underwriting, even if you never intend to make a payment on it.
When in doubt about any financial move between contract and closing — a purchase, a deposit, a new account — call your loan officer first. A five-minute question is always cheaper than a delayed closing.
Get Started
Choose your loan officer to apply
Applying takes you to our secure application portal, where you'll create an account and complete your application directly with the loan officer you choose below.
Ashley Woods
Sr. Loan Officer
NMLS #2190543
864-567-8802
ashley.woods@stallionloans.com
Not sure who to choose? Contact us and we'll match you with the right person.