1. Down Payment 

2. Get Pre-Approved

Before you begin the home-buying process, you must save up a down payment. In most cases, the more you put down, the better. If the down payment is less than 20%, typically you will pay Private Mortgage Insurance (PMI) along with your monthly payment. Contact a loan officer for more details. 

Contact a loan officer to get pre-approved for a mortgage. This will help the transaction go by smoother when it comes time to submit an offer on a home. 

3. Find a Real Estate Agent

4. Establish Your Criteria

5. Start Searching

Buying a home can be stressful and confusing, especially if you are a first-time home buyer. Hiring a good REALTOR® is the best way to purchase a home, by having solid guidance throughout the process.

Now that you have a REALTOR® selected, it’s time to create your “wish list”. Try to figure out what you need versus what you want. Your REALTOR® will ask you lots of questions because these are the questions that will help them find your dream home.

Now that you know exactly what you're looking for, your REALTOR® will set you up with a “Property Watch” online portal. You will get notified as soon as new homes that fit your criteria hit the market. Your REALTOR® will schedule showings and take you to view the homes of your choosing.

6. Submit Your Offer

When you finally find the home of your dreams, you will be ready to submit an offer. Your REALTOR® will advise you on the different terms you can choose to put into your offer to make it as strong as possible. Keep in mind that there may be others that are interested in the home as well, which means the seller will likely be reviewing multiple offers.

7. Inspection

8. Lender Documentation

9. Appraisal

Yay! Your offer got accepted! Now it's time to get the home inspected. If needed, your REALTOR® will give you a few different inspector referrals to choose from. Once the inspection is complete, you will receive a written report of all the things that the inspector found. Your REALTOR® will review the report with you and negotiate any repairs that you deem absolutely necessary.

While you wait for repairs to be completed and the appraisal to be done, the lender will likely ask you for additional documentation to continue the loan process. Getting these items to the lender in a timely fashion will help the loan process go more smoothly.

An appraisal is what determines the value of the property you are purchasing. If you're securing a mortgage to buy your home, your lender will order an appraisal to ensure that the home is worth the money they are loaning to you. After the appraisal comes back as supporting the purchase price, and your lender approves your loan, the closing date will be scheduled!

10. Closing Day! 

Woohoo! It’s time to sign for the new home. A day or two prior to closing day, you and your REALTOR® would have received a copy of some closing documents to review. On closing day, you'll meet at an agreed-upon location (usually a title company) to finalize the sale. Be prepared to read and sign a lot of paperwork. Congratulations! After everything has been signed, you will officially be a homeowner!