I'M READY TO BUY A HOUSE!! WHAT'S NEXT?

I'M READY TO BUY A HOUSE!! WHAT'S NEXT?

     After contemplating whether or not you are ready to buy a house, you have finally decided that YOU ARE READY! Before you do anything else and look for your dream home, make sure you're prepared.

    If you're a first-time homebuyer, you might be unsure where to begin or who to contact first. Before you start looking for a new home, the first thing that you'll want to do is to get PRE-APPROVED.

Here are a few steps that you need to look into before finally buying your dream home: 

CHECK YOUR CREDIT. When you decide to buy a house, the lender will do a 'hard pull' on your credit. This is an essential part of the first-step. This entails obtaining your credit report and credit score.

    Your credit score could affect your mortgage rate, if you're eligible, and what type of financing might be available for you. You may go through a series of interviews with lenders and fill out online forms, but this is a critical step in starting your home buying process. This will also help your lender provide you with better options that will suit your situation and figure out a timeframe that you and your real estate agent will go through.

GET PRE-QUALIFIED/ PRE-APPROVED. A pre-qualification is a preliminary step in the mortgage process in which you supply the mortgage lender with basic financial information via an online form. The lender doesn't verify this information but is used to see if you qualify for a loan.

On the other hand, a pre-approval entails filling out a mortgage application and giving supporting papers to your lender. This is a crucial part of any home buying process because this will determine how much budget you are approved for, leading us to the next step in buying a house.

FIND YOUR REAL ESTATE AGENT.  Buying a Home can be a complex and challenging process to do alone. You'll want the help of a professional on your side to answer questions and watch out for your best interests when buying a property. 

    Your Realtor can also provide you with trusted and experienced references including lenders to help get that first-step of getting pre-approved under way. Get referrals from friends and relatives to discover an excellent real estate agent. Always know that when buying a home, who you work with matters.

    Remember that knowledge is power, and make sure that you give yourself the ability to have that power. We want to make sure that YOU are happy with your BUYING POWER; in that way, we can provide you excellent service.