3 Easy Steps For Buying A Home
When Buying Your First Home
Step 1: Determine What Your Budget Is
Before you start looking at homes shop for a lender and get pre-qualified. The last thing you want to do is find the home of your dreams and not financially qualify for it. Be prepared to give money to ESCROW when you are ready to make an offer on a home and for closing cost. Shop for competitive rates by calling 2 or 3 lenders. Not just one. Understand that when you begin shopping for a home and find one you love. You will have to give in writing from a lender your pre-qualification for funds. This is why these steps are important to follow in order. Also know that you will have to put money in Escrow when you make an offer and be preparing for closing cost. Your lender can help you know what those will be. While you are in the process of looking for homes, you will need to be collecting these as well:
Copies of your last 2 Tax Returns
I'm sure there will still be more but this will help you get started.
Step 2: Start Your Search
This is the fun part! When you walk in the door, you will know if this is where you see yourself in the next 5 years. Whether it has the perfect kitchen, master suite, or yard, you will know when it is the one. When you find the home you love you will need to make an offer in writing with your Escrow funds and pre-qualification letter from your lender. It make take a day or so for negotiations but most of the time the seller is anxious to respond. Once your offer has been accepted begin your homework. Know what utilities you will have and find out what the deposits will be so that you are ready, when you go to close. Make sure you have a great Realtor to help guide you along the way!
Step 3: Close and Move In
Closing takes quite a few signatures but it is so worth it! This is the day you receive the keys to YOUR NEW HOME!!! You can begin moving and unpacking, painting, or remodeling. You are also needing to make sure you have your list for utilities, and move your mailing address. From this point on, This is HOME :)
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