1. Save Your Down Payment
Many believe that you need at least a 20% down payment to buy a home. There are many loans available that allow buyers to put down as little as 3% or 0% with a VA or USDA loan.
2. Know Your Credit Score
Your credit score is a numeric representation of your history and ability to pay back debts in the past. Different home loans have varying credit requirements.
3. Find A Coton House Real Estate Agent
Once you have a handle on your credit score and down payment savings, contact a local real estate agent who can guide you through the process of finding your first home.
4. Get Pre-Approved
Your agent will have a list of preferred lenders that you can work with to get pre-approved for your mortgage. This will help keep you on budget during the next steps!
5. Go Home Shopping
Make a list of what you want vs. what you need in your home. Your agent will use this list to find a home for you to tour.
6. Make An Offer
Your Coton House agent will help you determine the best price to offer for the home. In a competitive market, you may not be the only one bidding & will want to stand out.
7. Get A Home Inspection
Once your offer is accepted, you will want to do a home inspection to ensure there are not any hidden issues with the home.
8. Get A Home Appraisal
Your lender will arrange a home appraisal to ensure that the property is worth the price that you have agreed to pay for it. The bank will only issue a loan for the appraised value.
9. Close The Sale
Once your loan is approved, a closing date will be scheduled. This is when all paperwork is signed, the note is funded to complete the process and you get the keys to your new home!
10. Move In!
Congratulations! You are a homeowner!
Contact us with any questions.
(832) 304 7782