·
Contact a Mortgage Loan officer to determine
your credit worthiness and maximum home purchase price; You can also contact a
Realtor, who can provide a small list of reputable mortgage lenders.
·
Once you have your pre-approval letter from
your lender, you can start to view homes with your Realtor.· When you find your dream home, you will submit an offer to purchase (with the help of your Realtor), which can be accepted or countered by the seller.
· After all parties have agreed on pricing and terms, you now have a fully executed contract! Within the first 5 days after acceptance of offer, you must submit the Earnest Money (usually $1,000 via Certified Funds), conduct a home inspection with a licensed Home Inspector, and have your real estate attorney review the purchase contract to amend if needed.
· Your mortgage lender will have you submit an application for mortgage financing, where you will gather financial information such as employment info, bank statements, w-2’s, etc. Your home mortgage lender may also ask for appraisal fees upfront, at your expense.
· Before closing, a final walk-thru will be performed on the home to make sure it’s in the same condition when inspected and broom cleaned.
· Closing on the home will take roughly 45 days with financing, and 14 days for Cash deals.
I hope the steps above were helpful. Please feel free to contact me for more information.
