The Home Buying Process
Initial Meeting with Agent. Let’s meet to discuss your needs, wants and desired location.
Set Appointment to meet with a Lender. You will need to have a pre-approval from the lender prior to making an offer on home.
Property search begins.
Make an Offer.
CONTRACT IS ACCEPTED!
Inspections are scheduled.
Title Company is chosen.
Make Final Mortgage Application. Appraisal is ordered.
Settlement is scheduled.
Obtain Homeowners insurance.
Pre-Settlement inspection a day or 2 prior to settlement.
How Much House Can You Afford?
Before you begin your home search, you need to do a little planning. Many lenders will offer you a preliminary approval for a mortgage so you can negotiate as a buyer. Knowing your price range will bring your house hunting into focus. How much house you can afford depends on many factors, including how much you can manage for the monthly housing payment and how much you can contribute toward the down payment. Monthly payments include principal and interest on the mortgage loan, property taxes and insurance against fire and other hazards. These four costs are often abbreviated as PITI. For some buyers, monthly housing costs may also include homeowners’ association dues, condominium fees and mortgage insurance.
Check out the links below to learn more:
10 Details Most Lenders Will Need From You
- The amount of money you wish to borrow and the length of time you will need the money.
- Your current address and any other addresses covering the previous 24 months.
- Your Social Security number.
- Your current employer’s name, address and phone number and the same information for any other employers in the previous 24 months.
- Your gross monthly income, including documentation (most recent pay stub, final pay stub for any job you may have left in the current year and previous year’s W-2 forms).
- Complete account statements for any bank, credit union, retirement or brokerage accounts.
- Your assets, including real estate, personal property, stocks and bonds, life insurance with cash value, etc.
- A complete list of your debts, including account numbers, balances and minimum payments.
- A copy of the sales contract.
- An account, in writing, of any problems concerning your application and any documentation of the circumstances of those problems.
Find A Community To Call Home
Eager to learn about the best spots in your new neighborhood? Want to explore the local coffee shops, libraries or parks? The Whitty Group knows that, just like every buyer, every community is unique. We want ot help you find the one that fits your lifestyle best!