First time home buyers guide

Are you a first time home buyer? There is no question in that buying your first home is a huge important step. Home ownership is a huge commitment. It can be both exciting and overwhelming at the same time in taking the next steps in making your home dreams a reality. Buying your first home entails a lot of things to consider. In addition to this, buying a home can prove to be a smart lasting move, but it is vital to know what you are actually getting into.

Below is a home buying guide that has a breakdown of the home-buying procedure steps:

• Consider Your Needs – Make a list of the wants and must have amenities you want in your dream home and if it is the perfect size for you and your family.

• Check Your Credit Score – It is a must if you are applying for a home loan. Dispute any errors you find in your credit report.

• Get Your Financial Documents In Order – Gather paycheck stubs, bank statements, paperwork.

• Get pre-approved — Contact mortgage lenders. Get a pre approval for a home loan. Check and find out if you qualify for any loan programs such as FHA, VA, HUD loans. Find a mortgage lender who does research on the various mortgage options and the one that suits you. Consider what is important to you when choosing a mortgage lender: turn time? rates? customer service?

• Set Your Budget — Your pre approval letter shows how much home you are pre qualified for. How much are you willing to spend? Do you have any down payment saved? Speak to your mortgage lender for any home mortgage related questions.

• Get a buyer’s agent — A real estate agent can assist you in finding a home and answering all related questions in the home buying process. An agent will answer all your queries and point you in the right track of owning your dream home.

• Start viewing homes — View homes and start considering the ones that meets your needs. Refer to the wants and must haves you are looking for in your dream home.

• Choose your ideal home that meets your needs and that is within your price range and make a purchase offer.

• Closing Day. Finish off with closing on the home, which involves home inspections and due diligence by you the buyer. Complete paperwork. Sign legal documents. Do the final walk through. Deed must be recorded with the local county recorder’s office.

• Congratulations! You are officially a home owner! Enjoy your new home!

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