Buying a home is a great financial undertaking, and you will most likely require a loan. There are several options when it comes to lenders and loan types. Let the mortgage professionals help you determine what will work best for you and your personal situation. It's important to stay disciplined as you may qualify to borrow more money than you are comfortable spending. The best approach is pre-approval by a reputable and prudent mortgage lender. They will help you determine how much home you can comfortably afford. Remember this step in non- negotiable. Your pre-approval is your ticket to get in the game.
BUYING STEP #3: Cr TEP #3: Create a List of Wants and Needs
A certain amount of energy is required when deciding your list of wants and needs for the home. Based on your specific budget, you must figure out what’s important to you and what you are willing to compromise. Wants and needs play an important role in the buying decision. If your ideal home is outside of your current budget, you may need to compromise and set your sites on more of a "starter" home. Nobody ever said your first home had to be your last! Your agent will gather all of this information and set you up on a home search. This will ensure that when a new home hits the market, fitting your criteria, you will automatically be notified. If you are in a hot sellers market, you can miss out on your ideal home very quickly.
BUYING STEP #4: Touring Homes
After determining your criteria, you will be ready for some of the more fun stuff. Seek out the homes that are within your budget and see what you get for your money in different neighborhoods.
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