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
