Buying a home

Make sure you've covered the basics below!

Buying a home

Make sure you've covered the basics below!

Buying a home

Make sure you've covered the basics below!

1

Get a baseline- assess your finances

Check your credit score: Higher scores improve your chances for better mortgage rates.

1

Get a baseline- assess your finances

Check your credit score: Higher scores improve your chances for better mortgage rates.

1

Get a baseline- assess your finances

Check your credit score: Higher scores improve your chances for better mortgage rates.

2

Evaluate your debt-to-income ratio (DTI)

Lenders usually prefer a DTI under 43%. Use an online calculator to estimate your DTI.

Call to action

Call to action

2

Evaluate your debt-to-income ratio (DTI)

Lenders usually prefer a DTI under 43%. Use an online calculator to estimate your DTI.

Call to action

Call to action

2

Evaluate your debt-to-income ratio (DTI)

Lenders usually prefer a DTI under 43%. Use an online calculator to estimate your DTI.

Call to action

Call to action

3

Save for a down payment

Aim for 20% or more to avoid private mortgage insurance (PMI). However, some loans, like First Time Homebuyer, allow less.

3

Save for a down payment

Aim for 20% or more to avoid private mortgage insurance (PMI). However, some loans, like First Time Homebuyer, allow less.

3

Save for a down payment

Aim for 20% or more to avoid private mortgage insurance (PMI). However, some loans, like First Time Homebuyer, allow less.

4

Account for closing costs

Typically, 2-5% of the home’s purchase price.

4

Account for closing costs

Typically, 2-5% of the home’s purchase price.

4

Account for closing costs

Typically, 2-5% of the home’s purchase price.

5

Get Pre-approved for a Mortgage

Shop around for lenders to get the best interest rates and terms.

5

Get Pre-approved for a Mortgage

Shop around for lenders to get the best interest rates and terms.

5

Get Pre-approved for a Mortgage

Shop around for lenders to get the best interest rates and terms.

6

Find the Right Real Estate Agent

Work with an agent who knows the local market well.

6

Find the Right Real Estate Agent

Work with an agent who knows the local market well.

6

Find the Right Real Estate Agent

Work with an agent who knows the local market well.

7

Research Neighborhoods

Consider factors such as schools, commute, crime rates, amenities, and future development.

7

Research Neighborhoods

Consider factors such as schools, commute, crime rates, amenities, and future development.

7

Research Neighborhoods

Consider factors such as schools, commute, crime rates, amenities, and future development.

8

Visit the home in person!

Make sure to complete a walkthrough, but also explore the neighorhood.

8

Visit the home in person!

Make sure to complete a walkthrough, but also explore the neighorhood.

8

Visit the home in person!

Make sure to complete a walkthrough, but also explore the neighorhood.

9

Make an Offer

Review market comparables (comps) to ensure your offer is competitive (you can do this via Zillow, see what other homes are selling for)

9

Make an Offer

Review market comparables (comps) to ensure your offer is competitive (you can do this via Zillow, see what other homes are selling for)

9

Make an Offer

Review market comparables (comps) to ensure your offer is competitive (you can do this via Zillow, see what other homes are selling for)

10

Home Inspection

Hire a licensed home inspector to uncover potential issues. - If problems are found, you can renegotiate or ask the seller for repairs

10

Home Inspection

Hire a licensed home inspector to uncover potential issues. - If problems are found, you can renegotiate or ask the seller for repairs

10

Home Inspection

Hire a licensed home inspector to uncover potential issues. - If problems are found, you can renegotiate or ask the seller for repairs

11

Secure Financing

Finalize your mortgage, locking in the interest rate and terms.

11

Secure Financing

Finalize your mortgage, locking in the interest rate and terms.

11

Secure Financing

Finalize your mortgage, locking in the interest rate and terms.

12

Close the Deal

Review all closing documents carefully, including the loan agreement and title insurance.

12

Close the Deal

Review all closing documents carefully, including the loan agreement and title insurance.

12

Close the Deal

Review all closing documents carefully, including the loan agreement and title insurance.