About The Real Estate Group

The Real Estate Group (TREG) "Partners in Excellence"

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.

First Time Home Buyer Preparedness

Hey y’all!!  I wanted to provide you all with some information that would help you when working with first time homebuyers so I decided to take it back to the basics, in a sense…

Buying a house is a BIG step.  For most individuals, buying a home is the biggest purchase they will ever make.  As real estate professionals, part of our job is to ensure that our first time homebuyers are prepared.

First time homebuyers tend to have a lot of questions about the process. Below is a checklist to help you, help them understand how the LOAN process works.

Your client(s) have found the house they LOVE and are ready to make an offer.  They want to know what the next steps are:

  • Speak to a Regional Home Mortgage (RHM) Loan Officer & get PRE-QUALIFIED!!
  • Loan Officer receives a copy of the ratified contract.
  • Loan Officer completes loan application and prepares loan disclosures.
  • Loan Officer collects and reviews all income and asset documentation, has client(s) sign loan disclosures and collects appraisal fee.  *Additional documentation may be required depending upon which loan program is used. 

To set realistic expectations, I would recommend telling clients to allow up to 45 days to get to closing. 

  • File is submitted to processing for review and appraisal is ordered.  Processor may ask for additional documentation at this point in an attempt to answer any questions they may have about the file.
  • File is cleared by processing and is submitted to underwriting.
  • Underwriter reviews and gives approval – there may be some conditions assigned by the underwriter that have to be satisfied before the file can be moved to closing. (ex: Copy of Homeowner’s policy, etc.)
  • Processing moves file to closing.
  • Closing is scheduled with the title company for a time convenient for the client(s).
  • Client(s) signs closing documents.

You hand them the keys to their new home…THEY ARE NOW HOMEOWNERS!!!  J

As a team, TREG agents and Regional Home Mortgage loan officers can ensure that your first time homebuyer is fully prepared to make the biggest purchase of their life.

-Erin Samol, Regional Home Mortgage

***We have a very knowledgeable staff at RHM; remember the whole team at RHM is here to help you…whether it’s answering a general question or assisting your clients.  We’re right down the hallway, stop in and see us!!  J

About The Real Estate Group

The Real Estate Group (TREG) "Partners in Excellence"

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.