First Time Home Buyers Guide
Have you ever wanted to purchase your own home? It is entirely possible! Here are some of the first steps.
1. Get Pre - Approved
Not sure where to start? Start with calling your bank, they can often provide you with great options. Also call a few other lenders, it's okay to have your credit pulled multiple times within a 30 day period and you will have only one big hit on your credit! There are also a lot of first time home buyer programs funded by state and federal entities to assist you with the purchase of your first home! You can even qualify for some if you have purchased a home before but it has been more than 2 -5 years ago!
2. Find a Realtor
It typically does not cost buyers to hire a Real Estate Agent. Be prepared to show your agent the letter of pre - approval. This is how we know you are willing and able to purchase a home. Feel free to speak with and interview multiple agents. Just don't have multiple agent showing you homes. This is unethical for an agent to work with someone if they already have another agent working for them.
3. Find a Home and Put an Offer on It
Once you have decided on and hired your real estate agent, you can start your home search. your agent will ask you several questions so they know what you need and want in a home. They will then be able to send you a list of homes that meet your criteria. Be prepared to look for a few weeks or more to find that perfect home. Once you have found that perfect home, you can put a written offer on it. Your agent will gladly write up the paperwork and guide you through this process.
4. So Your Offer Is Accepted
Once you get an accepted offer on a home, your agent will guide you through and help you schedule the surveys and inspections. You will also need to provide your loan officer with the accepted contract and work closely with them to provide them all of the information requested.
5. Closing Day!
So you made it to closing! You will walk out of that title company a home owner! Your agent, lender, title company and you have worked tirelessly to get to this point. They will all inform you of the funds that you will need to bring to closing, if any. You will be signing all of the necessary paperwork and possibly meeting the sellers for the first time.
While purchasing a home may seem overwhelming, your agent, loan officer and title company will be there along the way to reassure and guide you through the entire process. You will have a great home owners journey and be putting those monthly payments to something you own!