10 Steps to Prepare for Buying a Home
- Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
- Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.
- Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety
- Determine if you have enough saved to cover your down payment and closing costs. Closing costs, including taxes, title, escrow, and transfer fees, average between 2 percent and 7 percent of the home price.
- Get your credit in order. Obtain a copy of your credit report.
- Determine how large a mortgage you can qualify for. Also explore different loan options and decide what’s best for you.
- Organize all the documentation a lender will need to pre-approve your for a loan.
- Do research to determine if you qualify for any special mortgage or down payment assistance programs.
- Calculate the costs of home ownership, including property taxes, insurance, maintenance, and association fees, if applicable.
- Find an experienced real estate agent who can help you though the process.
Next Steps:
How much can I afford?
Find out what you can afford using our affordability calculator
Property Search
Use our property search tool to find homes that fit your criteria
Pre-Qualification Form
Complete a simple form to begin the loan process
Testimonials
I was buying my first place and was feeling like my loan people weren’t being honest. A friend recommended calling Chris so I did. He came late to the game, and he had only 20 days to close, but he was able to get my purchase closed and save me thousands of dollars. Since then he has repeated this feat with family, friends, and a refi for me. It’s rare today to work with someone who is dedicated to the customer’s best interest, Chris consistently has done this.
- Joshua M.
