Step 1: Qualifying

Before you start shopping for your dream home, it’s a good idea to determine how much you can afford to borrow. We recommend that you spend some time looking at your budget. Make a list of where your money comes from and where your money goes to each month, and develop a personalized income and expense report. Once you have determined how much money you have available for a monthly mortgage payment, you can use our calculators to determine how much you can afford to borrow. 

Step 2: Finding and Securing the Right Property

Once you know how much you can afford, you're ready to find a property. When searching for a house, we suggest that you consult a professional real estate agent. We also recommend that you make a list of those factors that are important to you - such as location, number of rooms, size of rooms, proximity to your job and the quality of the school district - and then rank those items in order of importance. If you're considering an out-of-state relocation, you may also want to research "hidden" cost-of-living increases; such as utility prices, car insurance rates and property taxes. 


Step 3: Applying for a Loan

Our online Loan Application is a quick, easy and safe way to start the loan process. You'll need to answer a few questions about yourself and the property you are interested in buying, as well as some basic questions about your employment and finances. Once we receive your completed form, we assign a loan officer to your file and run a credit report. Upon receiving the application, your personal loan officer will call you to discuss the details of your loan. Of course, you can always call (781) 639-9909 for assistance or to complete the form over the phone. 

Step 4: Selecting a Loan Program 

There are a number of factors to consider when determining which loan program is best for you: the relationship between interest rates and points, the length of time you plan to stay in the home, your financial status, credit history, and the list goes on.


Step 5: Loan Processing 

Your personal loan officer will send you a package of documents in duplicate that will provide you with information about the loan for which you have applied, along with a list of documents required for your application to be complete. As always, your loan officer and underwriter will be available to answer any questions you may have and work with you to complete all necessary paperwork. You will then sign the documents in the package and return our copies along with any additional documentation that has been requested.

Step 6: Approval and Clearing to Close

This is the "home" stretch! Assuming your financial documentation is all in order, you will be approved for home financing and issued a mortgage commitment letter. Our closing department will review certain legal documents, such as an appraisal and title report for your new home (documents that you will provide with the help of outside agencies) and you will be cleared to close. At that time, you will call your attorney, title or escrow company and schedule a closing date with our closing department.