by Jeff Ragan
A quick and easy home buying checklist as well as a mortgage checklist to help you with that first home purchase. It helps you understand in a list order what you need to
accomplish in the home buying process.
This checklist basically spells out the steps of buying a home and getting a mortgage in a brief outline like manner.
The advantage of having a list such as this is you can take it with you. As you're working on the list you can check each item off when its complete.
I love lists, they help keep me organized. When you're working on something and get interrupted, you can look at your list and remember what you were doing. That's a great help when your busy!
Be sure to print this list and use it to keep you on track.
Obtain a copy of your credit report
Next take a close look at income verses your expenses. This is called the debt-to-income ratio or "DTI".
Assess your down payment options.
Weigh the various loan programs that will work for you.
Time to begin the loan application procedure (the above things on the first time home buyer checklist can also be done through the application process).
Secure pre-approval from a lender.
Search for the home you want to buy.
Put in a purchase agreement and have it accepted.
Lender ordered an appraisal.
Lender ordered a home inspection.
Loan approval finalized.
Do a walk through on the house before the closing (amazingly things can change from the time you put in the purchase agreement to the closing, like the electrical box turns up missing, so do a final walk through).
Sign the papers and get the keys!
If you would like a PDF file to download and print of a first time homebuyer checklist just click here.
Learn all there is to know about the home buying process by reading this article.
If you would like to understand the available programs, check out First Time Home Buyer Programs to see which one fits your needs.
Wondering where to begin in choosing a lender? Choosing a Mortgage Company will give you some awesome tips in choosing a lender.
Go to House Buyer Solutions Home Page.