Purchasing steps

Yes, buying a home can seem like a long process. But, if you break it down step by step, it won’t seem so complex. You might even have fun!

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1. You found your new home! You make the deposit and sign the purchase agreement.
2. You receive the Pennbrook Homeowner Manual a step-by-step guide to any questions you may have about your new home.
3. Your loan application is submitted. The lender orders a credit report and gets verifications. (We strongly recommend that you chat with one of our preferred mortgage providers at the very beginning stages of looking for a home. This will make your life a lot easier! Click here to visit with our mortgage providers.)
4. Your sales price and loan amount are confirmed or adjusted.
5. Your Good Faith and Truth in Lending statements are issued.
6. Construction on your new home begins.
7. We build the framework for your home and install heating, plumbing, electrical systems and fireplaces.
8. Your loan is approved!
9. The lender orders the appraisal, and the loan amount is finalized.
10. Plumbing fixtures, door hardware, appliances, and the roof are installed in your new home.
11. You receive your 30-day notice prior to move-in. Be sure to check out our move-in tips!
12. Your closing date is confirmed.
13. Your loan documents are drawn up and issued to the closer or escrow company.
14. Time to set up utilities and phone service for your new home. (Your Homeowner Manual that you will receive upon purchase will give you more details.)
15. Receive date of walkthrough of your new home. (7-10 days prior to closing.)
16. Final inspection from the city on your new home.
17. Time to sign the loan documents!
18. Congratulations! Your loan is funded. Grant Deed and Deed of Trust are recorded.
19. Time to get the keys for your new home!