Steps to Buying A House

Buying a house is an amazing experience. You’ll meet new people and learn different terminologies during the process. When it’s all said and done, you’ll move into the next chapter of your life with a major investment made in the future. The home buying process can seem a bit intimidating, but it doesn’t have to be! Let’s explore the  steps to buying a house before you begin searching for your dream property.

One of the first things you’ll want to do is check your credit score whenever you want to purchase a new home. Your mortgage lender looks at your credit report to determine whether you are financially stable and have the ability to repay a loan. Get a report from each of the three major reporting agencies: Equifax, Experian, and TransUnion. The Fair Credit Reporting Act allows each person one free report annually from each agency. Take advantage of this to check your report for errors and delinquent accounts. File a dispute with the credit agency if you find an error. If you find delinquent accounts, you’ll want to make a plan to pay them off and remove them from your report. Keep reading so you know more about Steps to Buying A House.

Unless you’re able to pay cash for a house, you’ll want to secure a home mortgage loan. It’s likely that you’ll need a substantial down payment that is required by the lender. Most lenders require a down payment of at least 20 percent of the sale price of the property. On top of the down payment, you may need to pay closing costs. You can expect closing costs to be approximately 2 – 8 percent of the price of the home. In addition to these fees, you’ll want money on hand to cover any unexpected fees and moving costs. It’s a good idea to have the amount of a couple of mortgage payments saved to ease the transition period into your new home.

You want a real estate agent with a good reputation who communicates at the highest level. You’ve come to the right place! We are dedicated to helping you have the most stress-free experience possible during the home buying process. We would love to meet with you to answer any questions you have about buying a home. We’ll genuinely listen to your needs and create a listing profile that helps us find homes for you to view. This saves you time and money! Once you choose a property, we’ll help you create an offer that catches the sellers attention. We’re skilled negotiators who will be with you throughout the entire home buying process.

Being pre-approved for a mortgage loan has some benefits such as allowing you to know the amount you can afford; it would also allow you to search within your budget range so that you won’t be disappointed later. The last thing you want is to set your sights on a home that is outside of your budget.

The pre-approval letter could also help you if you are having challenges with bidding. A seller will know how serious you are they see a pre-approval. This could give you an advantage over other buyers interested in the same property.

Nebraska Realty

Your real estate agent will help you construct an eye-catching offer for the property you choose. You’ll want to consider the asking price, the current real estate market, amenities in the area, and the length of time the house has been on the market. Use this information to make an informed decision and add any additional notes you wish the seller to see. If there is a special reason you are interested in that home, you may want to include that information. Your real estate agent will deliver your offer and wait for a response.

Once your offer has been accepted, the mortgage lender will order inspections as well as an appraisal on the property. A title as well as other paperwork would be completed. Immediately after finalizing the legalities, your real estate agent would guide you through the closing day. You can then receive the keys and move into your new home.