How to Get Started?
So you want to buy a home but aren't sure how to get started? It is always in your best interest to contact me to get a full assessment of your home purchasing abilities and get properly pre-approved, this is especially important for First Time Home Buyers (FTHB) but it is important to always get pre-approved if you are buying real estate.
In the interim, here are some quick tips and links that will get you started.
Mortgage Pre-Approval
Your first step should always be to contact me to get your mortgage pre-approval. This will tell you how much you can qualify to borrow based on a full assessment of your financial situation. This does not tie you to any one specific lender, but it does help you understand what home's you can look at based on what you can be approved to borrow from a lender. To obtain a pre-approval, you will be required, at the very least, to provide employment information and proof of downpayment, so be prepared to provide this information.
Find a Realtor
Once you know what you can potentially afford, it is time to actually start looking for a home. This is always best to be done with the guidance of a qualified and trustworthy realtor who is familiar with the area you are looking in.
Mortgage Approval
Once you have found your home, put your offer in, and have had it accepted, you now need to get the formal financial approval. This is when I will work with you to find the right mortgage product to fit your specific needs. We will gather all the necessary financial and personal documents and submit them to the Lender that is right for you. When the mortgage approval is received, we together will review the offer from the lender, make sure it is what is best for you the borrower.
Closing and Lawyers
When your conditions have all been met, and you're getting closer to the closing date, you will have a meeting with your lawyer to review your legal documents, mortgage documents, and confirm personal information is correct (including spelling of name, date of birth, etc). This is also the time where you will pay any fees associate with the purchase and mortgage retention. This includes lawyer fee's, down payment costs, and closing costs.
Take Ownership
You've done it, all the fine details are finished, you're all ready, and your lawyer has given you the keys to your brand new home. Congratulations, you are officially a home owner!