Step 1: Finances
1. Check your credit scores & credit reports.
2. Figure out how much cash you have for a down payment and don't forget about closing costs!
3. Set a realistic budget for the kind of home you're looking for.
Step 2: Get Pre-Approved
1. Search for a highly reputable mortgage lender that is going to get you the best rate.
2. Get a pre approval letter, it's not necessary but it's going to make your offer much more appealing to the sellers as opposed to getting pre-qualified.
Step 3: Finding Your Dream Home
1. Find a realtor you can trust who will be your best ally during this process (Hey there!)
2. Keep in mind your timeline for moving as it generally takes 30-45 days to close.
3. Gather your financial documentation to send to your lender
Step 4: Submitting Offers
1. Make a strong offer. Keep in mind the earnest money you put down may be anywhere from 1%-3% of the purchase price.
2. Your realtor needs to have strong negotiation skills to get your offer accepted!
Step 5: 30 Days Before Closing
1. Once your offer has been accepted, you need to arrange for financing with your lender.
2. You will need to get a home inspection as well as an appraisal done.
Step 6: Closing Day!
1. Have a certified cashiers check or schedule a wire transfer for your down payment and closing costs.
2. Make sure to bring your ID with you to closing.
3. Welcome to home ownership!
Ready To Purchase?