Home Buying Process
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Get Pre Approved
Find Your Dream Home
Make Your Offer
You must first determine what price point you want to look at. How much can you afford with all other costs taken into account? You'll also need to learn what loan programs are available to you. This is the time to check on your credit and try to boost your score.
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Escrow
Yay, time to put your Pinterest board to the test! What kind of home do you want - detached or attached? How many bedrooms and bathrooms do you need? What about school districts or your commute to work?
Final Details
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We want to make sure we offer the right amount to secure the deal. Things to consider: length of time on the market, other offers, homes for sale in the neighborhood, and concessions for closing. Closing costs such as title, escrow, and lender fees cost 1-3% of the sales price. This can be negotiated in the offer.
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Closing Time!
First, deliver escrow to title where it will sit until closing. Secondly, review disclosures, and schedulea home inspection. During your inspection period you will preform an inspection, review report, and negotiate any items that need to be addressed.
Perform due diligence, order and perform the appraisal. Review final terms with the lender.
Next, it's time forclosing! A final walkthrough willbe completed, then it's time tomove already! Don't forget tochange over utilities.
Benefits of Home Buying
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Increase in net worth
Mortgage payments help you build equity.
Amortization payments are fixed, no more worrying about rent going up each year.
Borrowing power
Equity built up over time may help you qualify for future loans.
Money capitalized on property is like a savings account with high interest rates.
Stability
It’s rewarding to have a place to settle down in and call you own.
Freedom to make any changes without any prior approval.
Your house is your home. It will not be a temporary living situation.
Tax deduction
You usually can deduct mortgage interest on your tax return.
Appreciation
Over time, the value of a home generally increases.