You've Found Your Real Estate Agent. What's Next?
Boise HomeFinder REALTORs® will be with you every step of the way in the home buying process.
Contact us today to get more info and to get started.
1. Estimate how much home you can afford
Before shopping for a home, you need to start thinking about how you will finance your home purchase. Get your mortgage ducks in a row so that you can make a solid offer when the right home comes along.
Determine how much you would be comfortable paying for your monthly home payment. To do this:
Take your total monthly income after taxes and subtract your monthly debts (loans, other monthly payments, general expenses, etc).
Factor in the cost of taxes, homeowner’s insurance, closing costs, private mortgage insurance if applicable, and homeowner’s association fees.
2. Get pre-approval for a loan
Contact a bank or mortgage broker to get a pre-approval (we can help you with this).
Gather the following documents.
- Pay stub for the last 30 days
- W-2 forms, last two years
- Signed federal tax return, last two years
- Documentation of any other sources of income
- Bank statements, two most recent (for both checking and savings accounts)
- Documentation of the source of your down payment: investment or savings account statements showing at least two months’ history of ownership
- If some of the funds are a gift, get a signed statement from the giver stating the amount and that the funds are a gift
- Proof of your identity (typically a drivers’ license or non-driver ID)
- Social security number
- Documentation of name change, if recent
- Certificate of housing counseling or home buyer education, if you have one
Source: consumerfinance.govThe lender will do a hard inquiry on your credit. If pre-approved, you will receive a conditional letter stating the amount you’ve been approved for.You don’t have to go with the lender that gave you the pre-approval. You can use your pre-approval to shop around for lenders who will offer you the best rate and service.3. Shop for homes
Here's the fun part!
4. Make an offer in the form of a Purchase and Sale Agreement
The seller can respond in three ways: accept the offer, reject the offer, or counteroffer.
If you and the seller agree to an offer, you'll move on tot the inspection and appraisal.
5. Get an inspection
Use a text section to describe your values, show more info, summarize a topic, or tell a story. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore.6. Apply for your mortgage
Use a text section to describe your values, show more info, summarize a topic, or tell a story. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore.7. Get an appraisal
Use a text section to describe your values, show more info, summarize a topic, or tell a story. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore.8. Purchase Homeowner's Insurance
Use a text section to describe your values, show more info, summarize a topic, or tell a story. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore.9. Do a final walk-through
Use a text section to describe your values, show more info, summarize a topic, or tell a story. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore.10. Close on your new home
Use a text section to describe your values, show more info, summarize a topic, or tell a story. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore.Sources
https://elfantwissahickon.com/how-we-help-you-buy-a-home/buying-step-by-step-process/
- Contact Us
Get your home search started with a quick phone call.
Boise HomeFinder is a division of Realty One Group Professionals
Boise Office
7709 W Overland Rd
Suite #150
Boise, Idaho 83709