Steps in the Homebuying Process

Understanding the steps in the homebuying process will make it clear where to start, where you’re going, and how to reach the finish line.

1. Get pre-approved
This is one of the most important steps in the homebuying process. By contacting a mortgage lender and getting pre-approved, you’ll know exactly how much home you can afford, plus experience several other advantages of getting pre-approved right from the get-go.

2. Choose a real estate agent
Your real estate agent will be the local market property expert. They’ll discuss your home needs and desires, and turn that into a list of eligible properties. Need help finding a real estate agent? Ask the mortgage expert you’re working with, look online, or ask for a referral from friends and family.

3. Find your dream home
Here’s the fun part! Tour properties, search high and low to find your dream home! Make sure you’ve clearly outlined to your real estate agent the features of a home that are important to you.

4. Make an offer
It’s time to get the contracts rolling, have the home inspected, check the title, and place a competitive offer! Back and forth negotiations may occur in this step, so lean on your real estate agent to help you navigate.

5. Start the home loan process
You started with the pre-approval, and now it’s time to move on to the next step in the mortgage process. The mortgage professional you’re working with will begin collecting more information from you, and discussing your home financing goals to choose the right mortgage program for you. They’ll also be looking at the title on the home, an appraisal, and more.

6. Close the loan
Congrats! Your offer has been accepted and your home loan application has been approved! You’ll sign the official closing documents and get the keys to your new home! Reminder: it’s smart to check in yearly with your Mortgage Loan Originator to make sure you’re on the right path towards achieving your long-term home financing goals.

7. Move in
Pack up and move, and then throw a house warming party! You’re bound to have a good time and get some awesome gifts for your new home!

Now that you know the steps in the homebuying process, give us a call to get started!