The Financing Process
Demystifying Home Loans
The home loan process can feel overwhelming
By collaborating with a trusted lender and remaining informed through every step of the process, from pre-approval to closing, you can have a significantly more comfortable experience. You’ll want to consult with a mortgage specialist (or two) to find a professional who you are confident will provide you with the best care. To get an idea of what to expect, review the following home loan process steps.
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Midwest Mortgage Group
Jenn Wright & Megan Weaver
Loan Officer
NMLS# 1573319
About Us
With a shared belief that homeownership should be a reality for everyone, Jenn Wright and Megan Weaver bring their combined expertise, compassion, and problem-solving skills to guide clients from application to closing — and every step in between. They know that mortgages are not one-size-fits-all, so they take the time to understand each client’s goals, challenges, and dreams, creating a personalized plan that makes sense for you.
Jenn’s background in real estate, paired with her mortgage expertise, gives her a unique perspective on the entire homebuying journey. She’s a natural educator who makes sure clients know what to expect, empowering them with the tools and confidence to make informed decisions.
Megan brings over a decade of mortgage industry experience, from banking and loan processing to her role as a loan officer. Her deep knowledge of multiple loan programs, along with her clear and consistent communication, helps keep the process stress-free and moving forward.
Together, Jenn and Megan operate like a relay team — seamlessly handing off tasks, anticipating needs, and ensuring that no detail is left behind. Whether it’s helping a first-time buyer navigate their very first offer, structuring a creative solution for a complex loan, or celebrating at the closing table, they are fully invested in seeing their clients succeed.
With Jenn and Megan, you don’t just get a lender — you get two committed partners who will listen, guide, and advocate for you from start to finish. Their mission is simple: to make homeownership not just a possibility, but a joyful and achievable reality.
Call today to get prequalified or to schedule a home buying consultation!
Step One:
Get pre-approval
Before you start looking for a home to buy, it’s wise and proactive to meet with a lender to get pre-approved for a loan amount. Offers accompanied by a pre-approval letter are stronger and will stand out, especially when the seller is receiving multiple offers.
To gain pre-approval, your preferred lender will gather information about income, assets, and debts to help determine how much you can borrow. This includes gathering a credit report, W-2 forms, pay stubs, federal tax returns, and recent bank statements.
There are a variety of home loan programs offering different advantages depending on your unique needs and preferences. Your preferred lender can go over the specifics of each to ensure you find a loan option that best aligns with your needs.
ESTIMATE YOUR MONTHLY PAYMENT
Estimate your mortgage payment, including the principal and interest, taxes, insurance, HOA, and Private Mortgage Insurance.
Price
Annual Tax
Loan Term (Years)
Down Payment %
Interest Rate %
Monthly HOA
Monthly Insurance
$3,198.20
Estimated Monthly Payment
Principal
$2,398.20
(75.0%)Taxes
$500.00
(15.6%)HOA
$100.00
(3.1%)Insurance
$200.00
(6.3%)Step Two:
Find the best loan
Collaborating with a top-notch local loan officer will ensure you have access to competitive rates and programs that best fit your individual needs. Take the first step by completing this form to get connected today!
Step Three:
Application and Processing
When you find the perfect property and your offer is accepted, your lender will help you complete a full mortgage loan application, discuss down payment options, and explain any related fees.
Then, your application is submitted for processing where the documents are reviewed. Your lender will also order a home appraisal and a property title search.
The next part of the application process involves sending everything to an underwriter who will review and approve the entire loan package to make sure it meets all compliance regulations.
It is not unusual to receive requests for additional documentation or clarification during this phase of the application process.
Step Four:
Signing and Finalizing the deal
Once your loan is approved, you’ll need to set up homeowners insurance.
Your documents will be sent to the title company and the closing will be scheduled for you to sign the necessary paperwork and pay any additional costs to complete the purchase of your new home.
After the loan goes through the required recording process, the purchase is complete, and you officially own your new home!
