Ready To Buy a Home?
True Path Loans, Inc.
True Path Loans, Inc.
Published on December 8, 2022
Ready To Buy a Home?

Ready To Buy a Home?

5 Steps When Purchasing a Home

Purchasing a home is one of the biggest investments you will ever make. It's also one of the most exciting and rewarding experiences you can have. It can be a daunting process, but with a little preparation and research, you can make it a successful and rewarding experience.

Verify my mortgage eligibility (Apr 18th, 2024)

Before you make an offer on a home, it's important to get a good grasp on the expectations and process of purchasing a home. Here's a look at what you should expect when buying a home.

  • Get Pre-Approved!
    • Before you start looking for a home, you should get pre-approved for a mortgage. This process involves completing a loan application and providing your financial information to a lender for review. The lender will look at your credit score, income, and debt-to-income ratio to determine how much you can borrow. Getting pre-approved will give you an idea of what price range you can afford, which can help narrow down your search.
  • Research Your Options & Time To Go Shopping
    • Once you've been pre-approved, it's time to start looking at different homes. Research the area you're interested in and look at different listings within your budget. You may also want to consider factors like school districts and amenities in your search.
  • Make an Offer & Negotiate
    • Once you've found a home you like, it's time to make an offer. This process involves negotiating a purchase price, as well as other conditions such as the closing date and contingencies. Your real estate agent can help you navigate the offer process and ensure that you get the best deal possible. Your lender will help you determine your finance options.
  • Home Inspection
    • When making an offer on a home, it's important to get a home inspection. This process involves a professional coming to the property to check for any structural issues or other problems that may affect the home's value.
  • Final Approval and Closing
    • Once the inspection is complete, you you can move forward with the closing process once you are Cleared to Close! This involves signing all the necessary paperwork and transferring the funds to the seller. This is where an escrow agent is involved to ensure a smooth transaction. It's important to make sure all the details are reviewed and that everyone is satisfied with the agreement.

Purchasing a home is a big undertaking, but it doesn't have to be overwhelming. By understanding the expectations and process of purchasing a home, you can make the process go more smoothly. With a little preparation and research, you can make the experience a successful and rewarding one.

Give us a call us today at 949-243-7900 to determine your VA Loan eligibility and start you on the path to owning your own home.  We are a veteran focused company, participate in veteran-run non-profit organizations aiming to help some of our finest secure their homes via VA loans, and strive to educate all of our veteran clients as well as real estate agents on the benefits of a VA Home Loan. We are proud to have helped thousands of veterans navigate the home buying process.

Show me today's rates (Apr 18th, 2024)