Although a home inspection is not required, it is a good idea to obtain the services of a professional qualified inspector to help you determine the condition of the home you are looking to purchase. A professional inspector will look for any structural issues as well as mechanical problems that may exist in the home that could cause problems in the future. In addition to a structural review, an inspector will also check faucets, toilets, appliances, and other items in the home to make sure everything is in working order. If something needs to be addressed, you can address them with the seller prior to closing.
Typically, you will sign your loan documents at a designated settlement office such as an escrow office or attorney's office. In the presence of the signing authority, you will review and sign all your loan documents and then present a certified or cashier's check to pay the remaining down payment, closing fees and other applicable closing funds. You may also wire your funds directly into escrow. Your loan processor will guide you through the process and will advise you on what needs to be done when. Once the loan documents are signed and delivered back to us, your home loan will close in 2 to 3 days and you will get the keys to your brand new home! For more details, please visit our Home purchase process.
Traditional conventional financing requires a down payment of 10 to 20% of the purchase price of the home; however, there are other home loan programs available such as our FHA program that allows you to buy a home with as little as 3.5% down. In addition to the down payment, you should be aware that there are other fees associated with purchasing a home. For example, there are closing fees, pre-paid interest, and prorated items such as property taxes and homeowner's insurance. Call and speak with one of our home buying specialists to get a better idea of what you can expect.
Get started online or call 888.983.3240 to talk to a licensed lending officer
Get Cash Using Your Home Equity
You've built the equity in your home. Now, make the most of it.
The loanDepot Home Equity Loan is a fixed-rate second mortgage that gives you access to up to 90% loan to value of the equity you’ve built in your home. So if your equity is $100,000, you can borrow up to $90,000.
Loans are available so take a few minutes now to find out how much you’re eligible to receive.