Starting the Process Off Right

Step 1: Get Pre-Approved for a Mortgage Loan

 
When purchasing a home, business, or income property, most people use a loan instead of liquid cash.
 
If you're buying a home, you'll need a mortgage loan. Through this process, the lender will pre-approve you for a certain amount (disclosed in a pre-approval letter) which will help you determine your buying power. This letter lets you know what price range to stay in when searching for a home so that you (and the bank) can be assured you will able to afford your monthly mortgage payments.
 
So that the lender can determine how much money you can afford to borrow and pay back successfully, the pre-approval process involves
  • getting a credit check,
  • verifying your income and employment, usually by submitting a w-2, and
  • reviewing your tax returns, any additional financial statements and your assets.
While this process may sound intrusive and unnecessary, the fact of the matter is that if you want to buy a home and you're not paying cash, getting approved for a mortgage loan is how you'll be able to--and since you'll have to take out a mortgage to purchase your home, you might as well (and are better off) getting approved before you even start searching for homes. 

Step 2: Hire an Agent

 
For most people, buying a home is the biggest financial move of a lifetime. So it only makes sense to have professional guidance along the way, and this comes in the form of a qualified real estate agent who can help you with every aspect of the home buying process.
 
Why choose an agent from Abraham Legacy Realty?
 
Our goal at Abraham Legacy Realty is ensure that our clients are satisfied and happy with their investment. While some may say that purchasing a home is not an investment, that simply is not the case. In few other ways can you invest in your family's well-being and financial future by purchasing the right home. A home can
  • help you ensure a safe and quality upbringing for your children,
  • be homesteaded so that your spouse is protected in case of your untimely demise, and
  • be passed down through generations or sold after increasing in value.
Here at Abraham Legacy Realty, we want to help buyers understand the home buying process and teach them how they can use real estate to make their money work for them.
 
We pride ourselves in working with agents who are worthy and honest, who are ready and willing to assist clients. Working with an agent from Abraham Legacy Realty, you'll never be left to fend for yourself before or beyond the closing table. If you have a question or a concern in the buying process or years down the line after you've purchased your home, you can call on us and rest assured that we will be there.
 
After all, more than just real estate, we're in the business of building legacies, legacies that last for generations and generations to come.

Step 3: Search for Homes

 
Once you know how much you can afford and you've found an agent, you can begin searching for homes! To be successful in your house hunt, consider the following questions before starting your search:
  • Where do you want to live?
  • What are you deal breakers in a neighborhood? In a home?
  • What kind of home will best meet your needs?
Figuring out the answers to these questions before you start looking for houses is the best way to be successful in finding the best neighborhood for you (and your family) and choosing a home that will meet your needs.

I've found the home I want. What's next?

 
This section includes information on price negotiation, home appraisals, inspections & insurance, and closing costs.

Whoohoo! I've made it past the closing table. Now what?

 
This section provides information on filing for homestead, settling into your new neighborhood, and keeping up the value of your home.