7 Steps to Homeownership

1. Find a trusted Realtor
   1. Finding a valued buyer’s agent who is trustworthy and easily accessible can be a valuable asset in the home buying process.
2. Partner with a Reputable Lender
   1. Obtain Preapproval, set up a budget, learn more of the process
3. Shop for Homes
   1. Find desired neighborhoods, discover likes and dislikes
   2. This may be a very tiring process, other times it may be quick and simple.
4. Write Offer
   1. Sit down with your Realtor to write your offer in the form of a purchase agreement.
   2. This outlines the terms of your offer and sets the process in motion.
5. 10 Day Inspection Period
   1. Allows buyer to obtain necessary information related to the structure, lot, and improvements to help make a more informed decision.
6. Appraisal and Underwriting
   1. Lender orders the appraisal to determine if the home value matches the established purchase price.
   2. Appraisal will determine if lender required repairs are necessary.
   3. Underwriters will determine if buyer is an “acceptable” borrower.

      i.      Underwriters examine credit history, history of purchases, debt to income ratios, length of employment, appraisal, purchase contracts

7. Close on the Sale
   1. Become a new and proud homeowner!
   2. At this point congratulations, smiles, and handshakes are in order!