First 10 Steps in the Home Buying Process
- Step 1:
- Decide if you are ready to settle down and become a homeowner. It is not just a financial commitment but also a lifestyle decision.
- Step 2:
- Call a mortgage broker from Verico Mortgage Options to get pre approved. Until you know if you can qualify for a mortgage, or how much of a mortgage you qualify for, you really cannot start the home buying process. Supply your mortgage broker with job letters and pay stubs to avoid surprises down the road.
- Step 3:
- After getting pre approved by one of our Verico mortgage brokers, go to MLS.CA to see what that amount of money will get you in the area you want to live. Narrowing down your home styles and areas will make it easier for your realtor to find you the perfect property for you.
- Step 4:
- Find your realtor. Finding the right realtor is as important as finding the right house, a referral from friends, family or people you respect is always the best way to go. We can also help you here.
- Step 5:
- Find your property. Along with your realtor, do as much due diligence as you can about the property and the area, this is obviously a large purchase.
- Step 6:
- When you make your offer on the property, make sure you make it subject to financing (even if you are pre approved) and subject to home inspection. We recommend finding your own inspector however; do not have the realtor set this up for you. Once you have an accepted offer, fax it into your mortgage broker along with the MLS listing.
- Step 7:
- Make sure you budget to have money left over after your down payment for closing costs (legal fees, appraisal, property transfer tax (if applicable), property taxes etc), as well as things you know you need to buy for your new home; there are always things to buy.
- Step 8:
- Arrange fire insurance on your new home, you must have it before your appointment with the lawyer/ notary.
- Step 9:
- Meet with the lawyer to sign mortgage documents.
- Step 10:
- Move in!
Mortgage Brokers
Call one of our Mortgage Brokers today, or apply online for a Free Pre-Approval today.
