1. Get Pre-Approved For A Loan

 

It is recommended that you get pre-approved for a loan before you start viewing homes. The pre-approval process involves meeting with a lender and authorizing them to examine your current financial situation and credit history.

Please keep handy the following information:

 

- 30 days most recent consecutive pay stubs
- Most recent 2 years W2s and/or 1099s
- Most recent 2-3 months bank statements
- How much savings do you have for your down payment and closing costs?
- Are you receiving a gift to cover the closing costs?

 

The benefits of pre-qualification include: 

 

- You’ll have information about what you can afford and be able to plan accordingly.

- You are able to identify what type de loan and/or special program you could qualify that will enable you to afford a better home

 

2. Choose a Realtor 

Real estate agents know the market and can offer advice about every aspect of buying a home. Why go it alone when you can have an ally on your side?

With a preapproval in hand and a real estate agent at your side, it’s time to get started on your home search.

 

3. Searching for your New Home

In order to find the home that’s perfect for you, think about:

 

- Location that fits your lifestyle.
- Prepare your two lists: “must-haves” and “like-to-haves”.
- Your comfortable price range

Staying true to your priorities will be important in finding the right home for you and your family!

 

4. Making an Offer

 

Your Realtor will:

 

- Assist you in price & contingencies  
- Prepare the offer
- Present and negotiate the offer

 

Once your offer is accepted, you can proceed to producing the earnest money check and moving forward with your mortgage lender to get your loan approved and begin scheduling the home inspection and appraisal visits.

5. Closing on your Home

At this point, all the contingencies are cleared and the lender should have provided a mortgage commitment letter, a formal document stating that your loan has been approved. The next step is to schedule your final walk-through and closing day. 

The final walk-through provides the home buyers with the opportunity to inspect the property one last time before taking possession of it. The buyers can make sure that any agreed-upon repairs have been completed, that no new damage has occurred since the last visit, and that any personal property that was supposed to be removed by the seller has been taken out. The final walk-through is an important step in the home buying process and can give the buyers peace of mind as they prepare to move into their new home.

 

The Closing Day: This is the final step in the home buying process, where all the necessary paperwork is signed and the title of the property is transferred from the seller to the buyer. It's also the day when the buyer receives the keys to their new home and officially takes possession of the property.