Guiding you on the path to homeownership
Buying your first home should be an exciting and rewarding process. Alaska USA Mortgage Company is committed to helping you every step of the way.
Take the first step
Schedule a mortgage consultation with Alaska USA. Knowing your purchasing power is important before you start searching for your first home. If you have been renting, living at home or just graduating from college, it is important to understand how much of your monthly budget can be spent on a mortgage payment. Your Alaska USA Mortgage loan originator will work with you to guide you on your path to homeownership.
Pick your path
Alaska USA is able to offer a wide variety of loan options specifically designed for first-time homebuyers. Once you have met with a loan originator and reviewed the variety of loan options, you can move forward and get prequalified. Your loan originator will review your credit report and explain how your credit affects your purchasing power.
Your loan originator will give you a list of documents that you need to bring in to be reviewed by local underwriters. Common documents requested are:
Alaska USA may ask for additional items that are required based on the specific first-time homebuyer loan that you choose based on your financial status or situation.
Lay the groundwork
Once you have been prequalified, you can start looking for your new home. Most first-time homebuyers start their home search online. Your Alaska USA loan originator can recommend local licensed realtors that can show you homes and help you write an offer. In today's marketplace, sellers prefer a prequalification letter to accompany an offer to purchase their home, showing them that you are a serious buyer. Don't forget, the choice is yours when it comes to selecting the title and escrow agency, which acts as the neutral party for you and the seller.
Select the property
Alaska USA will need a copy of your accepted offer. Once we have double-checked all the documentation needed we will send a qualified appraiser to the property. Their job is to assess the value of the house to help determine if the property supports the loan amount requested. A copy of the appraisal will be given to you for review and once you accept it, your loan will be submitted to underwriting for final approval.
You are at the doorstep
After you have been approved. It is time to take that final step. At closing, you will meet with an Escrow Officer from the title agency you selected when you wrote your original offer. Loan documents will be forwarded to the title agency by Alaska USA's closing department. The title agency will schedule an appointment in order for you to review all documentation provided and with the assistance of your Escrow Officer, you will sign all necessary documents. Your Escrow Officer will also let you know if you need to bring funds in for closing. These funds will need to be in the form of a certified check. After funds are disbursed, your ownership in the property will be recorded and you get the keys to your first home!