Welcome To Lucky Home Loans

Lucky Has A Loan For Every Home

Let Lucky’s three decades in the service industry evaluate your monthly income and debts to help you choose the right loan option for you and your family. Lucky’s goal is to work with you to determine which loan will work for you, factoring in your budget and financial goals.

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Mortgage Loan Officer

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Texas Home Loan Process: A Step-by-Step Guide

STEP 1: INITIAL CONSULTATION

This initial consultation covers:

  1. How long you plan on living in the home
  2. How much down payment you will need
  3. How much you want your monthly payments to be

STEP 2: PRE-APPROVAL

This initial consultation covers:

  1. Simplifies the home-buying process from the start
  2. Helps you determine how much home you can afford before you start shopping for homes Lets sellers know you’re serious about purchasing a home

STEP 3: PROCESSING

After you have completed a loan application, your loan file is submitted to the loan processor.

  1. The processor reviews your file and orders your property appraisal.Depending on your situation, the processor may need additional documentation duringthis step.
  2. Once your loan file is completed, the processor submits it to underwriting for approval.

STEP 4: UNDERWRITING

  1. The underwriter reviews your loan file to ensure all guidelines are met for the specific loan program and issues a loan decision.
  2. Once your mortgage has been approved and all conditions have been cleared, your loan ismoved to “Clear to Close” status.

STEP 5: CLOSING - CONGRATS! YOU ARE NOW A HOMEOWNER!

During closing, you will sign a variety of final documents. Be sure to bring:

  1. Photo ID
  2. Proper form of payment to cover down payment, closing costs, prepaid interest, taxes, insurance or any additional costs