Journey to Owning a New Home

Posted by GO Mortgage Team on 9/28/18 8:24 AM
GO Mortgage Team

Buying a home is an exciting adventure and likely one of the biggest purchases you’ll ever make.  With multiple steps along the way, it's difficult to not feel overwhelmed.  Here are few highlights of the process to help give you a better idea of what to expect.

  1. Pre-approval and review loan options.  Work with your home loan advisor to get a pre-approval letter, this shows you are a serious and qualified buyer. You should also be reviewing loan options to find the loan that best fits your needs.
  2. Work with our realtor to find your home. Don’t forget to check out homes for sale by owner or if you can't find a home, consider building a new home.
  3. Make an offer. Use your realtor’s knowledge and expertise to negotiate and secure a contract with the seller.
  4. Home inspection. Once your offer is accepted, a home inspection is usually completed.  At the same time, you should be locking in your mortgage rate.
  5. Underwriting and processing. This step is where you will satisfy any outstanding conditions for final approval by supplying any necessary explanations or documents.
  6. Appraisal of home. An appraisal is ordered by a third party to determine a non-biased opinion of the house value.
  7. Closing. Celebrate and move into your home!

Although there is lots of paperwork and more details to each of these steps, make sure you are working with a home loan advisor that makes the process as smooth as possible.

 

Learn more at gomortgage.com!

Topics: home loan advisor, first-time homeubyer, mortgage process, homebuying process, home buying process, purchasing a home