Buying Your Home
Moving from where you are to where you want to be.
We get to work with people as they improve their lives. Maybe you’re upsizing for a growing family. Maybe you’re downsizing or moving closer to work or closer to family. Maybe you’re after a nicer home or a shorter commute. It’s our job to understand your goals and to help you to achieve them.
Working together, we can concentrate on your goals, minimize the complications and make your life better.
If you’ve never purchased a home before, the process probably sounds very complicated. Sometimes it might sound like everyone is speaking an entirely different language. Even if you’ve bought or sold real estate before, you may not remember all of the steps that you took to get from point A to point Z and things may have changed since the last time.
We’ll discuss where you are today and where you’d like to be tomorrow. Your home should make your life better, so what does it need to include in order to do that? Let’s set some goals.
Let’s meet with a lender to consider mortgage programs and to determine the type of mortgage that you would like and/or qualify for.
- Shopping – This is the fun part
- Making Offers – Not so fun, but we’ll do the hard part
- Acceptance – This is when is gets fun again
While we can’t control the conditions of the market (interest rates, number of competing homes on the market, etc.), we can control the condition and presentation of your property, the asking price and terms of purchase and how easy it will be for other Realtors to show your home.
Unless you’re paying cash, you’re going to need a mortgage loan. There are lots of types of loans and programs out there and your lender will help you decide which one is the right one for you. Here’s what the application and approval processes look like:
Pre-Qualification – Getting prequalified lets you know how much you can spend on a new home and just as importantly, how much you want to spend.
Application – The loan application is the first formal step toward financing.
Processing – Your loan application and all of your documents will now go to a loan processor. He or she reviews your credit report and verifies your debts and payment histories.
Underwriting – The underwriter reviews the package that was prepared by the processor and makes the final approval decision.
Document Preparation – With your financing fully approved, the lender will prepare the huge stack of forms that you’ll be signing.
Closing – During the closing, the lender “funds” your loan by sending the mortgage money to the title company. Once funds are received, they will “record”. Once that happens, the home is yours and you receive your keys.