Finding a knowledgeable realtor in your market is a good place to start.
They will be able to guide you through the home buying process and also recommend lenders, settlement companies and other vendors that you will need.
Getting pre-approved is when a mortgage lender determines how much you can afford. Feel free to ask your realtor for a referral.
Feel free to start with sites like Realtor.com, Zillow and Trulia but please keep in mind that these sites are not always updated and do have a lot of homes that have already sold.
Once you have found a home, you and your realtor will need to make an offer. Make sure to listen to your realtor as they will guide you through this process.
- 1. Your lender will ask for some personal information such as tax returns, pay stubs, bank account snapshot
- 2. Check Credit
- 3. Order Appraisal – This will determine the value of the home the lender is lending money on
- 4. Order Title – The title / settlement company you picked to close your transation will be required to also order title for the lender to make sure there are no liens on the property that you are buying.
A home inspection is done by a home inspector who will inspect the house for any defects that the buyer or lender would want to know about. .
Once your loan is approved it will be time to set up a time and location to settle on your new home. Depending on your state you may be have an attorney or a licensed settlement agent handle your closing. This person will be go over all lender, state, and title documents with the buyer and seller.