Let's get you connect with a team of EXPERIENCED, KNOWLEDGEABLE, CONNECTED EXPERTS, who can help you achieve RESULTS
The First Step is understanding the Homebuying Process.
Even if you are not completely ready, our "JUMPSTART" homeownership program will get you started.
WHAT ARE THE STEPS?
STEP 1: Find the Right Realtor who can help walk you through the steps. The right isn't always the person who is willing to start when you get your loan. The right Realtor is willing the walk you through the path while you prepare to begin the journey.
STEP 2: Use method to check your credit & credit score without putting a hard hit on your score report. The law allows you one free credit report per year by visiting www.annualcreditreport.com. In addition to the annual free credit report, there are many other ways to get a free copy of your credit report and score such as www. creditkarma.com. Scores range from 350-850, the higher the score the better loan and interest rate you can qualify for.
STEP 3: How much house you can buy, is based on how much house you can afford. Credit scores are just one part of qualifying for a new mortgage. Understanding how you Debt measures against your Income is called your DEBT-TO-INCOME Ratio, this is the largest deciding factor of home much you can qualify for once pre-approved.
STEP 4: We provide step-by-step assistance to help you sell your property for the highest possible price and the least amount of hassle to our sellers under the best terms we can negotiate. To estimate how much you mortgage could be, take a look at our free mortgage calculator. Your new mortgage can consist of more than just the principle and interest. Some mortgage also include Homeowners insurance, property taxes, and Mortgage Insurance Premium (MIP)
Step 5: Save for your down payment. Things that are not normally included in the sales price or the mortgage are those cost to purchase a home that must be paid before you can close on the home. These can be things like the mortgage down payment (can range from 0-20 or higher), home inspections, appraisals, attorney fees, and other mortgage closing cost.
Step 6: Find the right Lender. Its always good to check around. Do your homework, ask friends and family, check reviews. Your lender should be able to answer every question you have about the financial journey you will take to obtaining your loan.
Step 7: Pre-Approval before your SHOP. Always make sure you are pre-approved before you start looking. It's nothing like finding the right home and losing it because you are ready and someone else is. When you find the right one, be ready. A pre-approval is different than a pre-qualification. A qualification is based on a conversation with the lender, a pre-approval is based on the lender verifying your documentation. This will give you better negotiating power.
Step 8: Find the Right Home. Make sure you select a home that fits you family needs (bedrooms, bath, kitchen size, closets, etc). Once you find the right home, the approval process can be. Here is where they check all the other missing pieces like an appraisal on the house you selected. Ensuring you have the right insurances in place. Verifying all the information about you and your home until the closing day. Anything can change with a loan so make sure you are timely with documents, and you don't change your income, savings or credit status during the process. Don' forget to check out the neighborhood, schools, driving distance to work, convenience to shopping. Your realtor CAN NOT tell you if its a good neighborhood. Check the crime rates for an area or contact the local precinct with your specific questions about an area. What you consider to be a "GOOD" neighborhood could definitely be different to someone else.
STEP 9: Make an offer. Sit down and review the contract terms. Everything in a contract is negotiable. Most sellers will always take the offer that have the most favorable terms for them, so be strategic in how you negotiate.
STEP 10: Close on your Home. The attorney will walk you through the closing documents. Your realtor will make sure all contract terms have been met. Your lender will make sure all financing is in order. You underwrite may check your credit and information once more before closing, and if all is in order...
CONGRATULATIONS TO BEING A NEW HOMEOWNER!
LET US BE A PART OF YOUR JOURNEY!
