10 Steps to Buy A Home This Summer
At GMFS Mortgage, we make the home buying process easy! If you are thinking of buying a home for the first time, you may not know where to start.
10 Steps to Buying a Home
1) Save for a Down Payment
Not everyone needs a 20% down payment for their home. There are loan programs for everyone and some may require little to no money down. Talk with a local GMFS Mortgage Loan Officer about your options!
2) Watch Your Credit Score
Your credit score can determine which loans you may qualify for. Talk with your GMFS Mortgage Loan Officer about which loan programs you qualify for.
3) Hire a Real Estate Agent
The process of looking for a home and buying one can be overwhelming, so working with a licensed professional always makes things easier and safer!
4) Get Pre-qualified by a Mortgage Lender
Talk to a GMFS Mortgage Loan Officer about getting pre-qualified to own a home. This way you’ll know your budget and what loan programs you may qualify for.
5) Home Shopping
Make a list of the things that you need in your new home and give this to your agent. They can use this to look for homes for you!
6) Make An Offer
Your agent will be able to help you determine what you should pay for a home. Remember you might not be the only person interested in that home, so make your offer stand out from the others. A pre-qualification letter from a respected lender like GMFS Mortgage will help you stand out to sellers.
7) Home Inspection
When your offer is accepted, you should hire an inspector to look for any major problems with the home.
8) Home Appraisal
Your loan officer will be able to set up an appraisal for you. This will determine the loan amount that the bank will be willing to issue.
When your loan is approved, you will be able to set up a closing date. This is when you will complete the paperwork to buy the home and get your keys.