Before you begin looking for a home, it is important to get pre-approved for a loan because you will know exactly what you can afford. This way, you will not fall in love with a home and find out that you cannot afford it. Another reason it is important to get pre-approved is that sometimes sellers will request proof of prequalification.
Find a lender with whom you feel comfortable. Remember they are working for you, so shop around until you find a lender or mortgage broker who really understands your situation and is helpful. Once you find this lender, they will ask you questions about your income, down payment, credit and current payments to find out how much you can afford. Be sure to find out as much as you can about different programs available.
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Finding a good real estate agent will make your experience of buying a home much easier. Some agents work with buyers and others with sellers. A real estate agent is a valuable asset when purchasing a home. There are many different options and services available so discuss what you expect from a real estate agent and what services they will provide.

Work with your buyer’s agent to define exactly what you are looking for in a home. Choose an area and make a wish list including important details like cost, size, number of rooms and bathrooms, two-car garage, large yard or whatever you need specifically in a home. This will narrow down the choices and help your agent find the homes that are the best match. The next step is going to look at houses with your agent. It is helpful to go to different houses and shop around. You may want to keep a checklist with you so that you can keep track of the pros and cons of each residence. Let your agent know your likes and dislikes so that they can find better choices for your next outing.

Once you have found the house you’re looking for, make an offer. Your real estate agent will help you write the offer, which will include; asking price, closing costs, inspections and other important details. The offer is then sent on to the seller’s agent, who takes it to his/her client. Either the seller will accept the offer, counter the offer, or decline the offer. Sometimes a little negotiation is needed, but once you have an accepted offer you are ready for step five. Many times earnest money is required, which you will need to discuss with your agent. Remember that it is not a good time to make any other big purchases, such as a new car, during this time because it may affect whether or not you qualify for your loan.

There are many different requirements after you have an accepted offer. You will need to meet with your lender to give them any more information and discuss closing costs. Your agent will schedule inspections. Once the inspections are approved and everything is being finalized, you just need to wait for closing. Closing usually takes place at the title company and this is where you sign all the contracts and loan information. Be prepared to sign many papers. Usually the keys to your new home can be picked up the next day.
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