HOME BUYING PROCESS Explained

The first step in buying a home is finding out where the money will come from. Finding the right lender is key to making the deal flow as smoothly as possible. Things to consider when choosing a lender:

• Talk with multiple lenders to make sure you are getting the best deal
• Use mortgage companies not banks or credit unions
• Work with someone who communicates effectively and promptly responds.
• Do an online search to see reviews from past customers.  

Once you find a lender you will discuss the details of buying a home so you can obtain a pre approval letter. This pre approval letter is your greenlight to begin your home search.  Things to discuss with your lender:

• Down payment (As low as 3.5% down)
• Interest Rates (Fixed Rates, Adjustable Rates)
• Monthly payment (Mortgage, Taxes & Insurance,)
• Types of loans available to you (Conventional, FHA, VA)
• Length of Loan (10 year, 15 year, 30 year)
• Closing Cost

The Home Search Begins! Once you are pre approved we will know what price range to start searching in to keep you within a comfortable budget. Things to consider when shopping for a home:

• School Zones
• Crime
• Flood Zones
• Resale Value
• Maintenance
• Location
• Price Per Square Foot
• Comparable Home Sales
• Property Tax
• Home Owners Associations

The moment you have been waiting for! You have found the perfect home and now its time to make an offer. Things to know going into your offer:

• Offer price
• Earnest Money
• Closing Date
• Contingencies 
• Inspection Period
• Title Company

Once your offer has been accepted you will enter the "Inspection Period". This is your opportunity to inspect the property for latent defects that my be hidden beneath the floors or walls. The inspector will investigate things such as:

• Electrical
• Appliances
• Crawlspace
• HVAC
• Structural Integrity 

Once you get to this point you are almost done! Next you will work with your lender to obtain any final documents that they are requesting to get your loan officially approved. Once approved you are now officially headed to the closing table. What you need at the closing table:

• Provide proof of Insurance on your new home
• Wire Transfer the money needed to pay closing cost & down payment
• Utilities swapped to your name
• Picture ID