Purchasing a Home
I want to buy a home. What do I do now?
1. Get Pre-Qualified for Mortgage Financing. Know before you find the home of your dreams that you can buy it. Note: With most Mortgage Companies there are no "Up-Front" costs associated with Pre-Qualifying. It can be done On-Line, Over the Phone, By Fax or In Person.
2. Discuss financing options with your Mortgage Loan Officer. Select a loan that best suits your indinidual needs in regards to Down Payment, Closing Costs, Interest Rates, Terms, etc.
3. Contact a Real Estate Agent. A Real Estate Agent is a trained professional at your service to help you buy a home.
4. Schedule an appointment to see the property through your Real Estate Agent. Write down all of your questions and concerns while viewing the home.
5. Make an offer to purchase the property with help from your Real Estate Agent AND Mortgage Loan Officer. "You never get a second chance to make a first offer." Make sure it covers all contingencies and meets your financing requirements. Also, SEE #1. A "Pre-Approval Letter" is very helpful if the seller is trying to decide between multiple offers and your the only one "Pre-Approved" for financing.
6. If accepted, it is suggested that you have the property inspected by a Home Inspection Company. ($200 - $300)
7. If satisfied with the inspection, your Loan Officer can then order an Appraisal and Title Work, once needed documents have been submitted and verified.
8. When all required items are cleared a "Final Approval" will be issued by your Mortgage Lender.
9. A closing with your Title Company is then confirmed and performed on the "Closing Date" in the accepted offer.
10.MOVE IN!
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