Buying a New Home?

Get Approved Before You Start Shopping for Your New Home

Want to save time? Look for the home after you discuss your goals with a Hippo Financial mortgage adviser. It saves time in the car looking at a price range that may be out of your budget. It also is a written guarantee from Hippo Financial that you can afford and borrow from us to get that new home.

For an approval we ask to review your credit, assets, and income to make a full decision on your file. We then send an approval letter that allows your realtors and the sellers to know you are a cash buyer. This makes negotiations on the property a little better when both sides know they have a bona fide family interested in moving in soon. Click here to use our calculator and learn more about your payments, down payments, terms and affordability. Call us and we will help you with it. It only takes 10 minutes to find out what type of home you can afford.

Mortgage Approval and Closing

You’re almost there! Here’s what to expect for your mortgage approval and closing:

  1. The Approval Process – After your loan application is completed, a Hippo Financial loan processor and underwriter will review to ensure all necessary documents and information are included. They will then make a determination on whether or not you’re approved for the loan.
  2. The Loan Commitment – Once approved, we will call you and/or your real estate agent to provide details of the loan commitment, including the interest rate, the monthly payment and the closing date. You may also receive the information in writing in a Commitment Letter.
  3. The Loan Closing – This legal transaction is where the title to a property is formally transferred from the seller to the buyer. After your loan is approved, we will provide you a meeting time and the exact amount of the cashier’s or certified check you’ll need to bring.
  4. Closing Costs – In addition, there will be other costs during the approval process and at the closing. When you apply for your mortgage loan, we will give you a “Good Faith Estimate” that itemizes the estimated closing costs so you’ll have an idea of what your total closing costs will be.

Call today to get approved toll free (877) 630-7730!