Steps in Buying a Home

Getting started on the home buying process can be overwhelming and intimidating. You might be asking yourself, "Where do I even start?".

Of course, the first thing to focus on is your finances. Get out your calculator and write down a plan for yourself. If your goal is to buy a house in one year, then write out your one year plan...and stick to it! It also might be helpful to talk to a local mortgage lender. There are so many different programs and options to qualify for a mortgage, and you might be closer to "ready" than you thought! Plus, if you need to work on your credit score, most lenders can offer assistance.

Once you have enough saved for a down payment and closing costs, its time to get started! First, you need to find a local real estate agent that you trust to guide you through this process. Once you've decided on a realtor, they will connect you with their trusted mortgage lenders! Its best to reach out to a few different lenders to find the best fit for you. Once you've decided on a lender, its time to get pre-approved!

Your lender will need to look at things like pay stubs, bank statements, and your credit score to determine if you are qualified for a loan, and for what amount. With this letter of pre-approval, you now have a budget/price range, and you can start looking at houses!

Your realtor will start sending you listings that match your criteria, and will take you to view houses! Once you decide on a house, your realtor will write up an offer for you. If your offer gets accepted, you are officially under contract! At this time, your realtor and your mortgage lender will guide you through the next 30 days until closing!

Lots of things happen during this 30 days, such as getting your loan application actually accepted. Just because you have been pre-approved does not mean you will 100% get loan approval. The best way to avoid getting denied for a loan is to be completely honest with your lender about finances, and to provide all of the information they request from you. Also, don't make any major purchases during this process, such as furniture, a car, or a boat, as this could prevent loan approval as well.

Some other things that happen during this 30 day period include inspections, appraisals, and negotiations. But as long as you have a trusted real estate agent and a trusted lender, you will make it to the closing table, and leave as a homeowner!

Looking to buy or sell in Jacksonville?

Have any real estate questions?

I'd love to chat. Fill out the contact form, or shoot me an email!

ocook@redzonerealtygroup.com