8. Go Home Shopping 9. Make an Offer 10. Put Money in Escrow 11. Negotiate with the Seller 12. Close the Loan and Receive the Keys
1: FIND OUT WHAT YOU CAN AFFO U CAN AFFORD
The first step in your homebuying journey is determining your price range—and it’s absolutely essential. Before you start searching for homes, you need to know exactly what you can afford. Start by building a realistic budget. Consider your down payment, closing costs, and the liquid reserves you’ll need to keep on hand after closing (checking, savings, retirement accounts, stocks, etc.). Then, look closely at your monthly expenses: mortgage payments, property taxes, homeowners' insurance, utilities, routine maintenance, and, if applicable, Homeowners Association (HOA) fees. Establishing this budget guides your home search and gives you the confidence to act quickly when you find the right property. It’s the foundation for making smart, sustainable decisions throughout the process.
STEP 2: GET PRE-APPROVED FOR A LOAN
Buying a home is a major financial and emotional investment, you will want to maintain control and make practical decisions based on your budget and goals. The best approach? A conversation with an experienced, licensed, mortgage originator with whom you will work closely. Together you will determine the appropriate budget for your home acquisition and monthly expenses that leads to a pre- approval for you to share with a real estate agent. Many real estate
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