Roadmap to Homeownership
Prepare To Buy A Home
- Is my income stable?
- Am I able to put a small percentage of my income into my savings each month?
- Is my monthly debt manageable?
- Do I have a good credit score?
- Is my savings account already in place, and do I have enough set aside to pay a small down payment?
Know Your Options
Once you decide which loan is best for you, one of our loan officers will be in touch to get your application started. This step is one of the most important in the process, as we’ll be reviewing your financial documents to see if you qualify. We will need access to your household income, current assets, outstanding debt, and overall credit score.
Work With An Agent
If you are approved, we will then recommend a real estate agent who can help you find your dream home. Before starting with the agent, make sure you have a relative budget, list of neighborhoods, and nearby amenities you would like to see from the home.
Discover Your New Home
- The neighborhood
- Local schools
- Your potential commute time
- The nearby amenities
- The price
- The number of rooms/bathrooms needed
Almost Closing Time
Get a home inspectionYou will need to find an inspector to double check that the home is in good condition. This step is important to determine the fitness of the property and if any costly repairs may be needed.
Get an appraisalOnce you’ve received the home inspection, plan accordingly for an appraisal. This step is essential to make sure you have an accurate evaluation of the market value of the property.
Get an underwriting approvalDuring this time, our team will work on underwriting your loan. This simply means we will verify your financial status in order to give the loan a final approval.
- A government-issued ID or driver’s license
- Available funds in the form of a bank check or wire sufficient to cover the down payment and any unpaid closing costs