1. DETERMINING WHAT PRICED HOUSE TO LOOK FOR
It is my goal to make the process of buying a home as smooth as possible for my buyers. The following are my suggestions. Although it is not crucial to use this exact order in the process of purchase, you will find it useful as a guideline.
|Calculator that does not include the property tax and insurance portion of your payment but tells you the benefit of making extra payments on your loan.|
THREE BASIC STEPS IN THE LOAN PROCESS
Prequalification: This can be done in minutes with a "qualified" loan representative. They need to have you tell them your annual income, available down payment, and any long term debt. This is a minimum to do before looking at houses. I suggest .
Preapproval: This can be done in a day. The loan representative will do a quick credit report, have you fax/send them wage and bank statements. This is good although not necessary to have done prior to making a purchase. It will give more strength to your offer as the seller will be more sure of your ability to buy their home.
Final Approval. This is completed after the receipt by the loan company of the appraisal and title report.
STARTING TO LOOK FOR A HOME
Buying a home is the largest financial decision most people will make. Having spent 25 years helping people, I've learned how to make this process not only easier but also how to help people find the house they are happy with. I am confident as you work through the following steps, you will make a decision that you will be happier with in the years to come.