Next is your journey to home ownership. There are four major steps to getting the home you want at the best price. Don’t let the amount of work in each step scare you. We have tried to cover all aspects of buying a home. Some of the tasks are quick, some can be done concurrently, and some you probably have already started.
The following are your steps to home ownership.
• Step one, Get your finances in order
• Step two, Look for your perfect home
• Step three, Obtain financing
• Step four, Make an offer to buy
And as a bonus:
• Step five, Other aspects of the home purchase
Overview of actions the future home buyer
needs to take
• Check your credit report and credit score.
• Put yourself and your family on a budget. Not only will this tell you how much you spend, it will allow you to save for a down payment and see how you can live with a monthly mortgage payment.
• Decide what your family’s needs and wants are in a new home.
• Educate yourself about the housing market, neighborhoods, and cities under consideration for a home, types of homes available for sale, financial assistance, and mortgage types.
• Get prequalified for a certain dollar amount from a lender.
• Work with real estate professionals to see homes for sale that meet your criteria.
• Apply for a mortgage. Work with the lender to secure the loan.
• Make an offer to buy a home, using the proper contingencies.
• Go through the closing process.
• Enjoy your new home! Continue to protect that home by making mortgage payments on time.