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Steps to Buying a Home

Prepare a budget:
Once you’ve decided how much you can spend, you should develop a working budget to make sure you can afford the monthly mortgage payment.

Decide what kind of home you want or need:
Start thinking about what features are most important to you.

Get your loan pre-approved:
A pre-approved mortgage helps you shop with confidence by knowing how much home you can afford. Your mortgage account executive can review you finances and credit and estimate your pre-approved loan amount.

Find a real estate agent:
Finding the perfect home takes time. A real estate agent can make your search easier and faster.

Inspect the home:
When you find a home you like that’s within your budget, give it a thorough inspection. A professional inspection of the home is recommended to give you a better idea of any potential problems.

Make an Offer:
When you find a home you’d like to buy that’s within your price range, make an offer and enter into a contract to purchase the home. Make sure your offer allows you to get your money back if a professional inspection reveals problems with the house, or if you are unable to get financing. Your real estate agent can be extremely helpful in guiding you through this process.

Decide on type and rate of your mortgage loan:
There are many types of loans and repayment options. Your mortgage account executive can help you select the loan that suits your financial needs and preferences.

Closing the loan:
Closing a loan (also called settlement) is when you make your down payment, pay closing cost (which include fees charged for processing the loan), transfer property ownership from the seller to you, and sign all the necessary legal documents