Step-By-Step Homeownership

a comprehensive guide to achieving your dreams of homeownership

Your mortgage approval process starts in the moment your offer is accepted. Our promise is to provide you with prompt and friendly service. The home-buying process doesn't need to be scary. Our step-by-step guide will walk you through the process and answer your questions on what you should expect from your REALTOR®, where to look for loans, and what to watch out for at closing.

	Credit Approval
	Choosing a Credit Program
	Documents Needed
Usually, Mortgage Lenders try to get important information about you, such as: your personal credit history, the amount of money you have available for the down payment, and the possibilities of your keeping yourself employed in order to pay your mortgage loan. Our mission is to guide you on how to demonstrate stability and your ability to pay your loan, so you can get your approval. By contacting Prysma, we offer you a credit pre-qualification, based on the information you will have given us over the phone. In order to proceed with the mortgage process, you should provide us with the following documents:
Mortgage Loans for Buying a Home
	Photocopies of the last 6 months of your bank statements.
	Photocopies of the last 12 checks for your rent payments.
	Letter containing your banking balance.
For Refinancing a Home
	Photocopy your monthly payment balance – your current mortgage.
	Photocopy of the property title.
	Information about the property insurance.
	Data on your current employment and your banking account.
Data on your current employment and your banking account. Note that the list of documents above is for mortgage loans and refinancing loans, in which the Lender requests thorough personal paperwork. There are credit programs which present no need for providing information regarding your personal income, employment or banking account.
	Costs of the Mortgage Loan Process
	Credit Application
	Monthly Payment Calculation