Buying a home is one of the biggest decisions you will make in your life. In addition to this big decision, there are a million different steps you need to take before you find the house of your dreams. First Fidelis, a mortgage lender in the Kansas City area, is here to help you understand the six things you need to do before buying a home.
1. Prepare for Homeownership
There are many different things you will need to get together before you start looking for a home. It is a good idea to get a pre-approval letter from a lender, preferably the lender you plan on using to finance the home, before you start looking. This will help you better determine a budget for a home and jump-start the rest of the process. Getting pre-approved is also a good idea to help you figure out what kind of mortgages you qualify for.
At this point, you will also want to start saving up for a down payment on a house. Speak to a lender about how much you should plan on putting down on your home to keep your budget within your expectations.
2. Pick a Realtor
Many people think that they can save some money by skipping this step. Buying a home without a realtor, however, can be much more challenging. While you may love spending hours browsing through homes on websites like Zillow and Trulia, when it comes time to set up appointments for showings and dealing with negotiations, you’ll be glad that you have a realtor on your side.
Real estate agents also know the ins and outs of the home buying process, and they can help you narrow down neighborhoods, set up inspections, and tell you if a home is above market value.
3. Find a Home
Once you have a realtor picked out, it is time to start searching for a house. The realtor will want to know what your criteria for a home include, and you will want to have a list of “must-haves” and a list of “wants.”
Your real estate agent will take your list and start looking for you. After they have a few options, they will see if you are interested in setting up showings. You can also visit open houses if you are interested in a property that has an open house.
4. Get Financing in Order
Finding a lender is no easy task. You want to work with someone you trust to find you the best deal. Working with a professional lending company, like First Fidelis, gives you peace of mind when it comes to financing a home. At this point, you will decide on the type of home loan you are going to get and how much you are going to put down on your new home.
5. Make an Offer
Having a real estate agent makes this step a whole lot easier, too. Once you have picked out a home, you can make an offer to the seller. Your realtor can help you determine a fair offer if you want their help. Otherwise, they just present your offer to the seller. The seller can either accept, counter, or reject your offer.
6. Close on the House
Closing is the exciting part! On the morning of the closing, you can walk through the house one last time. At this point, you can double check to make sure everything still looks okay. If all is well, you will meet with all parties and sign a bunch of paperwork. After all the paperwork is completed, you will have the keys to your new home!
If you live in the Kansas City Metro Area and are in need of a trustworthy mortgage lending company, First Fidelis can help. First Fidelis offers a variety of different loan types to meet the needs of any borrower. Are you ready to look for a new home? Call First Fidelis today at 913-205-9978 to discuss mortgage financing options.