Whether you’re a first-time homebuyer, moving to a new home or purchasing an investment property, we know the process can be confusing at first. There’s so much information, it can be easy to get overwhelmed. We get it!
Let’s learn more about the homebuying process step by step.
Step 1: Determine how much you can afford
Defining your budget and reviewing your financial situation is a great place to start.
Step 2: Get pre-qualified and pre-approved for credit on your mortgage
One of the first steps in your homebuying journey, pre-qualification simply means getting an approximate idea of how much you may be able to borrow based on your financial situation and a credit check.
Step 3: Shop for your home and make an offer
This is the fun part. Work with me, your real estate professional, to find a home that works best for your family and make an offer on the home. This includes any conditions you might request and closing costs.
Step 4: Get a home inspection
A home inspection protects you, the buyer, from any surprises with the property. Inspectors review the overall condition, safety and quality of the home. If serious issues are found, you have the option to rescind your offer or work with the seller on fixes or price adjustments.
Step 5: Have the home appraised
An appraisal evaluates the value of your home. It’s required by mortgage lenders, and paid for by borrowers.
Step 6: Coordinate the paperwork
Your lender will work with processing and underwriting teams to finalize all of the paperwork, reach out to you on any conditions that must be met and process your loan.
Step 7: Close the sale
This might be even more fun than house shopping. Congrats! You sign closing documents and the home is now yours.
