By Christopher Seder
Congratulations on deciding to purchase a house. Buying a house is one of the most important journeys of your life. Everyone dreams of one day owning a home, it’s the American dream to own a nice home where you can raise your family. If you are new to buying a house then this is for you. Educating yourself about the home buying process is very important and you have come to the right place. You are about to learn the steps that go into buying a house.
Step 1: List out What Your are looking for In a Home
It’s very important that you sit down and list out what your goals for a home are. You need to list out what you are looking for, what features you want, and neighborhood and so on. Having a good base to start from is very important. If you have to have an entertainment room then put that on your list. I would also divide your list up with must haves, and want to have. Something like a hot tub might be on the want to have section. You do not need it but it would be a good bonus to have.
Step 2: Know What You Can Afford
The next step is to really figure out your finances. You need to pull your credit report and make sure everything looks right. If there are errors on your report then make sure you get them fixed immediately. If you credit is not where it should be, you usually need a credit score somewhere in the mid 600’s to get a loan these days. Then Get some kid of credit repair program in place. Click Here For The 57 Day Credit challenge.
Also you should gather all your financial statements for the last year or so and all your bills. Put them together and really figure out what you think you can afford. You will also need these for the next step.
Step 3: Find the Right Loan/ Mortgage Company to Work With
When looking for the right loan company and loan you need to do a little research. Looks up different types of loans and learn about them. You also need to be determining the price range you can afford. You can do this with mortgage calculators that will give how much you can afford or a Mortgage company can help you figure this out.
That brings us to finding a good mortgage company. Just do some research, ask friend who they use for their mortgage company. And find a company that can give you the lowest interest rate. Once you have sat down with your mortgage broker and figured out what your price range is then you will need to get a pre-approval letter. This just shows what the lenders thinks they can lend you and that stuff.
Finding the right realtor is very important. They can make your home buying experience a smooth ride. Just do some research, Google realtors and ask friends who they would recommend. It all comes down to someone you trust and feel comfortable working with.
Step 5: Find Your Home
With the Help of your super start realtor finding your home should be no problem. Take that list of must haves you made in step 1 and discuss them with your realtor. Sit down with him and go over all the houses that are for sale that meet your criteria. When you have this done map out open houses and go check them out. Your realtor will be a great help in finding you dream home. They will also be able to go over all the paper work needed with you.
Step 6: Make an Offer
Once that home is found you are going to have to make an offer. This is usually when you will go through all the paper work that your realtor can go over with you. Ask him/her any question that you may have about the process so your feel confident with your decision. Also make sure they do a market analysis on the property. This will help you determine what you want to offer on your property.
Also always make sure you have an inspection contingency in so that you can have someone inspect the property and make sure there is nothing wrong with the property. By having this if you find something wrong you can easily get out of the contract.
Step 7: Close on Your Home
Before you officially close on the property you will need to review all the closing cost and disclosures with your realtor and mortgage person. Get insurance on your property, an appraisal, and then you are ready to close. Most realtors have done this hundreds of times so they can easily guide you through the process.
Step 8: Move in and Enjoy
Once you have closed you can move into your new amazing home and enjoy life.
Tags: Billings Montana Homes, Billings Mt Realtors, Bonus, Buying A House, Buying a House Billings MT, Credit Repair Program, Credit Report, Credit Score, Dreams, Entertainment Room, Financial Statements, Home buying Billings Mt, Home Buying Process, Home Buying Process Billings MT, Hot Tub, Journeys, Loan Company, Loan Mortgage, Mortgage Company, Neighborhood, Owning A Home, realtor Billings mt, Seder, Step 1, Step 2