I Want to Buy A House

Where Do I Start?

One of the largest transactions you'll make in your life is the purchase of real estate.  The real estate market is the backbone of our US economy and is considered part of the "America Dream". 

Preparing to Buy A House

Buying a house is a big step which you should begin preparation for as soon as you decide it is something you would like to do in the future. The preparation process will consist of:

  1. Reviewing your credit report from all three credit bureaus to make sure there aren't any accounts listed that do not belong to you. You also want to make sure your accounts are reporting to the credit bureau accurately.  The three credit bureaus are: Equifax, Transunion, and Experian
  2. Determine how much money you have to allocate towards buying a house. You will need to show how much money you have saved to go towards your down payment and closing cost.  You can use funds from your savings account, retirement account (401k), gift funds from a friend or relative, etc.

Find A Realtor

Purchasing a home can be a very intricate process that requires someone who is familiar with working in the area you are seeking to purchase your home. It is important you locate a Real Estate professional you feel comfortable working with and who understands your family's needs.

  1. Get recommendations from family and friends who have recently purchased a home. If they had a great experience, they will most likely be happy to refer their Realtor to you.
  2. Find a Realtor online in the area you would like to purchase. Check to see if there are any online reviews from their past clients.

Find A Lender

Finding a good lender is just as important as finding a good Real Estate Agent.  Start with the institution you already bank with to determine their current loan programs and interest rates available.  You can also get  a recommendation from your Realtor.  Most likely your Realtor has worked with many local lenders and may be able to recommend a lender they feel will be best suited for your situation.

To start the pre-qualification process, you will need to authorize your lender to pull your credit and review your financial situation. The lender is trying to determine if based on your credit score and financial snapshot, they will be able to qualify you for a loan.

Buying a house does not have to be a stressful process when you have the right team paving the path for a successful journey.  Purchasing a home is a rewarding experience and therefore should be memorable. 

These are just the first steps towards buying a house.  Once you've found a real estate agent and a lender, you will be ready to move forward towards the next steps towards home ownership!