The time is here. You are finally ready to go buy a home. What should you do first? It’s a good idea to meet with your mortgage consultant and discuss your financial situation. You will need to have a loan preapproval letter from your consultant and they can answer questions about interest rates, house payments, how much you can afford and so on. It can be a relief to find out how much mortgage you are approved for so that you know what your shopping price range will be. If you don’t have a loan consultant, consider working with a loan broker rather than a bank based lender. Brokers sell loans to many different investors (banks) rather than just to one bank so you will get the best price quotes.
Once you have that important loan approval from your lender, contact your Realtor. Sit down and discuss your wants and needs and be clear about the price that is acceptable to you. You can do some of your shopping on line and eliminate homes that are too old or too small or too expensive. Then you need to put on your walking shoes and start touring the homes that are on your list of top prospects with your Realtor. There is no quick way to check out home interiors and neighborhoods. You just have to put in the time. Soon, some homes will emerge as your top picks.
After you’ve found the home of your dreams, your Realtor and loan consultant will work with you to put an offer together and help you purchase the home from the seller. You can buy a home in as little time as two weeks or as long as two years. You set the pace. Your housing professionals work with you to keep your schedule. Good shopping and good luck on finding that great first home.
For more detailed information, come to our FREE NO OBLIGATION FIRST TIME HOMEBUYER class or wait for future blogs. “Simple answers to home ownership questions”.