| Get Your Finances in Order
Your credit reports are a cumulative look at how you manage your finances. You must know exactly what your credit reports say about your financial history before you apply for a mortgage.
These reports play an important role in the mortgage approval process and in determining the interest rate and other loan terms that a lender offers you.
If you haven't looked at your credit reports, you might be surprised at their contents, because errors are common.
If you have issues with your credit, I can help you with credit repair. Contact me today to discuss your situation.
Get Pre-Approved for a Mortgage
Do you know how much house you can afford? Probably not, unless you've talked with a lender.
Pre-approval helps you in other ways. Consider this scenario. A home seller gets two similar offers. One is accompanied by a letter from the buyer's bank that states she is pre-approved for a mortgage in the amount of the offer. The other has no supporting documents. Which offer do you think the seller will consider first?
Determine Your Wants and Needs
Buying a home isn't as difficult as you might think.
If you're short on funds, narrow down your wants and
needs to help you understand what you can afford.
Then become familiar with your real estate market and
narrow down the list of homes in your price range.
Start Searching for a Home
Your agent will give you multiple listing sheets to study. You'll probably also pick up House For Sale magazines and read classified ads in your local newspapers. You'll probably spend time surfing the Internet for homes. You might even plan afternoon drives to preview neighborhoods. These are all excellent ways to see what's available.
Complete Your Loan Application
Once you've found the home that you want, it is very
important to complete your loan application. It is a
simple process, and you can get started right here. When the time is right, we'll order an appraisal of your new home.
Make an Offer
Now that you are fully qualified for
your loan amount, you can make an offer on the property
without further stresses of completing the loan process.
Your Loan Funds
Your real estate agent and the seller's
agent will work together to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office. |
