Steps
To Buying A Home
The
steps to buying a home are basically the same for everyone. Following
these steps can help you take charge of your home-buying experience.
Decide
how much home you can afford before you shop. Before you begin
house hunting, you should have an idea of how much you can afford to spend
on a home. Your lender will help you arrive at a price range that fits
your budget.
Prepare
a budget. Once you've decided how much you can spend, you should
develop a working budget to make sure you can afford the monthly mortgage
payment.
Decide
what kind of home you want or need. Start thinking about what
features are most important to you.
Get
your loan approved. A pre-approved mortgage helps you shop with
confidence by knowing how much home you can afford. Your mortgage professional
can review your finances and credit with you and estimate your pre-approved
loan amount.
Find
a Real Estate Agent. Finding the perfect home takes time. I can
make your search easier and faster.
Make
an offer. When you find a home you'd like to buy that's within
your price range, make an offer and enter into a contract to purchase
the home. Make sure your offer allows you to get your money back if a
professional inspection reveals problems with the house, or if you are
unable to get financing. I can be extremely helpful in guiding you through
this process.
Inspect
the home. When you find a home you like that's within your budget,
give it a thorough inspection. A professional inspection of the home is
recommended to give you a better idea of any potential problems.
Decide
on the type and rate of your mortgage loan. There are many types
of loans and repayment options. Your lender will help you select the loan
that suits your financial needs and preferences.
Close
the loan. Closing a loan (also called settlement) is when you
make your down payment, pay closing costs (unless the Seller is paying
all or part of your closing costs), transfer property ownership from the
seller to you, and sign all the necessary legal documents.
