There are many steps to the home buying process and sometimes it can be confusing, stressful, and intimidating. The step-by-step process below will help reduce that stress and frustration, and provide you a more positive home buying experience.
Step 1: How Do I Get Started?
First, ask yourself what can I afford? Download our easy home buying mobile app here to calculate estimated monthly payment costs. (This free app will also help you throughout your home buying process and answer basic questions and track your favorite homes!)
Second, ask yourself if you are in the position to buy a home. Do I have enough for a down payment? Do I qualify for a zero down payment purchase? Different loan programs have different qualifications. Click here to learn about the different loan options you have available to you. You can also review the different loan option payments within our mobile app. From your smartphone, download it now.
Step 2: Get Pre-Approved
Getting Pre-Approved will make you more desirable to Sellers. This is different from a Pre-Qualification since with a Pre-Approval an Underwriter has already reviewed your file and supporting documents. If you just have a Pre-Qualification, you may still be denied since that is an opinion of someone in sales, not a trained Underwriter’s approval. Your Pre-Approval Letter lets a seller know you already have a promise of lending and, once in contract, you’ll be ready for the fast track to closing. Making your Pre-Approval a great bargaining chip, since most Sellers want to close as quickly as possible.
The Pre-Approval Process is quite simple, and our EQUITY247® online Application makes it easy by connecting, with your consent, to your bank to pull financial statements. No digging through emails or files for your last banking statement. What could be easier!? Get Pre-Approved now!
Step 3: Pick a Trusted Realtor and Go Find Your Dream Home
Your Realtor will narrow down homes that suit your style and tastes, as well as show you homes in and around your price range.
Step 4: Advise Your Lender When Your Home Offer is Accepted
Your mortgage professional will help guide you through the rest of the loan process which will include inspections, appraisal, final approval and closing. In most instances, this can take place in as little as 30 days.
Apply today and start thinking about tomorrow!
For your convenience pay for your appraisal online HERE
Step 5: Start your move
There are many great guides out there to help you move. Here are a few to help you get started.
Want to learn more?
If you want to learn more about the mortgage process in an easy and fun way, check out our YouTube channel Mortgage Mechanics. We have quick, 2-minute informational videos to go through all parts of the loan process. Click here to check them out.