Buying a home is a significant accomplishment and one of the largest purchases a person can make. It can be both exciting and stressful. That is why it is important to work with a knowledgeable team of experts who can help you prepare for your goal of becoming a homeowner.
Benefit from our $0 Lender Fee* offer and keep more cash in your pocket at closing when compared to other lenders. Save an average of $2,500** to use towards an additional down payment, purchasing furniture, moving costs and covering additional expenses.
Some initial planning before making an offer to buy a home can make the process move smoothly.
We have provided a list of key steps that can help you navigate the journey to homeownership.
Review Your Budget
A review of your budget can help you determine what monthly mortgage payment fits your budget. All monthly home payments generally should not exceed 42% of your gross income. Reviewing current payments can help in creating your estimate.
Completing an online application is a simple step. Providing some basic personal and financial information can help determine an estimated loan amount, identify some loan products that may work for you and connect you with a Mortgage Loan Originator.
Available Mortgage Options
After completing an application, an experienced Mortgage Loan Originator will contact you to review the information you provided and then discuss available mortgage options based on your unique financial situation.
Down Payment Requirements
Your Mortgage Loan Originator will review down payment requirements with you. The amounts can vary anywhere from 0 to 20%, depending on the loan program. If your down payment is less than 20%, you may have to pay private mortgage insurance (PMI).
Another step in the process is to identify communities where you are interested in living. Researching average home prices, available schools, commuting distance and community activities can help you narrow your search area.
Selecting Your Real Estate Agent
A knowledgeable real estate agent can help you navigate the purchase process, notify you of homes that come onto the market, arrange viewings of homes and help you negotiate with the seller. Your Mortgage Loan Originator can often recommend an agent.
It is important to see a number of homes before you make a decision. An open house allows potential buyers to visit a home during a set timeframe. Or your real estate agent can arrange for a private showing to allow you more time to inspect the home.