Pre-qualification provides an estimate of your borrowing power. Your lender will help determine how much money you may be eligible to borrow before you apply for a loan. This will help you determine the price of a home you can purchase.
When you pre-qualify, you provide the loan officer with information about your credit, assets and debts. Based on the information you provide, you will find out how large a loan you could qualify for. It's important to note this is not yet a commitment to lend.
Pre-Approval is a conditional agreement for a specific loan amount based on verification of your income, credit, and assets. It is also conditional upon a satisfactory appraisal of the property and title review.
With Pre-Approval, you can confidently shop for a home because you know in advance how large a loan you could qualify for.
Pre-Approval gives you an edge when buying a home since it is an indication that you are a serious homebuyer.
Buying a home will be one of the most significant purchases you will make in your lifetime. Therefore, it is essential to have a dedicated real estate agent representing your best interests throughout the process. All Realtors are NOT the same. You want to work with someone you can trust and who will explain the process thoroughly to you and help you navigate through the maze of details.
This is the fun part. Make a list of your wants and needs, and be sure to discuss it with any co-buyers. Once you start looking, you may find that your criteria changes a bit - that's okay! Just be sure to share that information with your agent to ensure you see only properties suitable for you.
I will schedule showings for you and ask for feedback to help narrow down the right home until we find the perfect one for you. Ready to shop? Contact me now to get started!
When you find the home you want, I will help you make a written offer. We'll look at local trends, comparable market values and property features. Using this information we'll determine the price you would like to offer.
We'll also determine terms of the sale, such as financing, down payment, closing date, inspections/repairs, closing costs, contingencies, etc.
Once we submit the offer, the seller will respond with either an acceptance or we may negotiate until both parties agree or move on.
Once an offer has been accepted, I'll work closely with you through the remaining steps. These may include the home inspection, appraisal, earnest money deposit, insurance, loan approval, title work, survey, HOA documents, any contingencies and the final walk-through.
The final step is closing day, where documents are reviewed & signed by all parties, transferring the property's title into your name. I encourage you to ask as many questions as needed so that you fully understand the process.
CONGRATULATIONS! YOU'RE NOW A HOME OWNER!