7 Easy Steps to Purchasing Your First Home

[fa icon="calendar"] May 8, 2019 8:59:00 AM / by Eustis Mortgage

Eustis Mortgage



Step 1: Contact your Mortgage Lender

Even if you are not quite ready to apply for the loan, it’s a good idea to start the dialogue with a mortgage professional. You’ll want to get a solid understanding of what to expect during this process. Anything from credit score requirements to cash to close should be topics of conversation.


Step 2: Know How Much Can You Afford

Understanding your purchasing power is critical to a successful process. Lenders generally recommend that people look for homes that cost no more than three to five times their annual household income.


Step 3: Obtain a Pre-Approval

A pre-approval will strengthen your offer and set you apart from other offers. It sends a clear message to your seller that you are a serious buyer. Additionally, the pre-approval period is an opportunity to further understand the lending process and your loan product.


Step 4: Contact Your Realtor

Real estate agents are important partners when you’re buying or selling a home. Real estate agents can provide you with helpful information on homes and neighborhoods that isn’t easily accessible to the public.


Step 5: Start Looking for Your New Home

Start touring homes in your price range. It might be helpful to take notes on all the homes you visit. Take note of key features of homes that appeal to you. Determine your “must haves” versus things you can compromise on.


Step 6: Check in with your Mortgage Lender

While shopping for your home, you will want to maintain contact with your mortgage lender to ensure your paperwork is current and no additional information is needed from you. Maintaining communication is important at every phase of your transaction.


Step 7: Shop and Make an Offer

This part is the most fun! You’ve taken care of the preliminary paperwork with the Lender. You’ve been diligent in your search and done your homework with your Realtor. Now go for it! Put those negotiating skills to the test but also keep in mind to make quality offers


If you're interested in knowing more about the home buying process, contact us now!

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