Understanding how to find and finance the perfect home for you:
1. Determine How Much House You Can Afford
2. Get Prequalified and Preapproved for Your Mortgage
Before you start looking for a home, you will need to know how much you can actually spend. The best way to do that is to get prequalified for a mortgage. To get prequalified, you just need to provide some financial information to your mortgage banker, such as your income and the amount of savings and investments you have. They will review this information and tell you how much we can lend you. This will tell you the price range of the homes you should be looking at.
3. Find the Right Real Estate Agent
Real estate agents are important partners when you’re buying or selling a home. Real estate agents can provide you with helpful information on homes and neighborhoods that isn’t easily accessible to the public. Their knowledge of the home buying process, negotiating skills, and familiarity with the area you want to live in can be extremely valuable. And best of all, it doesn’t cost you anything to use an agent – they’re compensated from the commission paid by the seller of the house.
4. Shop for Your Home and Make an Offer
5. After offer is accepted, Get a Home Inspection (Condos and Houses)
6. Select your Lawyer representing you in the sale
7. Work with your Mortgage Banker to Select Your Loan
8. Bank will do Appraisal & Paperwork
9. Commitment from the bank & Title Report Cleared with lawyer
10. Close the sale