|
Personal Finances and Credit Reports
Before you look at houses to purchase the first steps should be:
- Finding out what you need to know about your personal finances before you purchase
- Learning how to create a spending plan best for you and your goals
- Hearing how your credit history & credit score may impact ability to purchase
Related links: Equifax | Experian | TransUnion | MyFico
 Role of the Lender
The next step in your goal to become a homeowner is:
- Choosing a lender to assist in applying for a mortgage loan
Related Document: Mortgage Loan Application
- Learning why pre-approval of your mortgage loan is critical in the process
- Knowing the difference between pre-approval and pre-qualification
- Learning the meaning of upfront money needed, closing costs, escrow accounts and much more
- Finding out how to avoid predatory lending practices
Working with your Real Estate Agent
Now is the time to start looking for your house by:
- Learning how to choose a real estate agent to work with you
- Working with your real estate agent to find the house to meet your needs
Related Worksheets: Housing Priorities Worksheet | House Evaluation Worksheet
- Understanding what is included in a contract to purchase
- Hearing why an earnest money deposit is necessary
- Knowing what to look for when viewing properties
- Working with your real estate agent to find the house to meet your needs
Getting a Home Inspection
Deciding if you want a home inspection before you purchase by:
- Knowing where to find a home inspector
Related Links: ASHI | NAHI
- Understanding what a home inspector inspects
- Learning who the home inspector works for
- Understanding the difference between a home inspector and an appraiser
Closing your Mortgage Loan
The final step in realizing your goal to be come a homeowner is:
Understanding your choices in choosing a professional to close your loan
Knowing what legal documents are involved in the closing
Related Documents: Deed of Trust | Note | Settlement Statement
Learning what kinds of insurance policies are required
Learning the choices on how you want to title your new property
Knowing the exact costs involved in purchasing your home
Finding when you get the keys to your new home
| 
