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Eight Steps to Buying a Home

Step 1: Figure out how much you can afford 

What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate.

Step 2: Shop for a loan 

Save money by doing your homework. Talk to several lenders, compare costs and interest rates, and negotiate to get a better deal. Consider getting pre-approved for a loan.

Step 3: Learn about home buying programs

There are several home loan programs which offer lower down payments and can be a good option for first-time homebuyers.

Step 4: Shop for a home

If you choose a home in a neighborhood with a Home Owners Association (HOA), be sure to request a copy of the HOA packet so that you can review it before closing.

Step 5: Make an offer

Discuss the process with your real estate agent. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale.

Step 6: Get a home inspection

Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home and can help you avoid buying a home that needs major repairs.

Step 7: Shop for homeowners insurance

Lenders require that you have homeowners insurance. Be sure to shop around.

Step 8: Sign papers

You’re finally ready to go to “settlement” or “closing.” Be sure to read everything before you sign!
Hope that helps! Call or email me with any questions.

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