Buy a Home

Buying a house can be broken down into five steps:

  1. Prequalify
    • Prequalifying for a mortgage can tell you how much house you can afford so you don’t waste weeks or even months shopping in the wrong price range.
    • Being prequalified also gives you a stronger bargaining chip to use when making an offer; sellers in today’s market may give more preference to a prepared — i.e., prequalified — buyer.
    • Prequalifying is easy to do from virtually anywhere with an app or online, and it can take just a few minutes during regular business hours.
  2. Shop for a Home
    • It’s the moment you’ve been waiting for — the chance to comb through listings and schedule in-person or virtual tours.
    • Your lender helped you find an estimated mortgage payment you can comfortably afford. Now, your realtor is going to help you get in the door.
    • Again, prequalifying before you start your home search is crucial. Once you get an estimated loan amount, your realtor will be able to show you homes that fit in your price range.
  3. Select a Loan Program
    • You’ve gotten prequalified. But there are still many different types of home loans to choose from with different financing options.
    • You may have been given multiple loan choices during the prequalification process (step 1). But know that some products or programs may be subject to change based on the property you decide to buy.
    • In this step, you’re going to get to know your loan officer a whole lot better as you work together to hand-pick the right loan program to meet your short-term and long-term goals.
  4. Complete the Loan Approval Process
    • You’ve finally found your dream home, gotten your offer accepted, and made it through the appraisal and inspection in one piece.
    • Before you post that celebratory Facebook status, you’ll still need to get through the final approval process.
    • Your loan officer will collect the rest of your paperwork, including title work, flood certification, and homeowners insurance, to give you the seal of approval on your loan.
  5. Close on Your New Home
    • Hectic as it may be, this is the time to celebrate. On closing day, you’ll meet with the seller to transfer the property and close the transaction.
    • To make it happen, you’ll need a certified or cashier’s check, made payable to yourself and ready to be endorsed to the title company.
    • Take a moment to review your Closing Disclosure, sign the mortgage note, receive the deed from the seller, and pat yourself on the back. It’s a done deal.
This information is meant as a guide to show the general steps of the financing transaction. Not every transaction may follow these steps due to the borrower’s specific needs and the type of loan the borrower qualifies for.
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Positively Life Changing

Cornerstone Home Lending has assisted families with more than 500,000 home-financing transactions since our inception in 1988. For over 35 years, we have strategically positioned ourselves for steady, sustainable growth without losing sight of our mission: To make a positive difference in the lives of others.

In October 2022, Cornerstone acquired and merged with The Roscoe State Bank, the oldest bank in Nolan County, Texas with roots dating back to 1906, to create Cornerstone Capital Bank. The institutional banking division offers deposit and lending services to community banks across the country. Through our continued expansion, our mortgage team can now originate loans in 45 states and Washington, D.C. Cornerstone can also provide full-service, in-house loan servicing operations.

Adding banking and loan servicing platforms to our growing residential lending services empowers our loan officers to make a lasting impact in their clients’ and partners’ lives long after closing.