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 (you can do the above items on this first time home buyer checklist through this application process).
Secure pre-approval from a lender.
Search for the home you want to buy.
Submit a purchase agreement and seller accepts it.
Appraisal ordered by the lender.
Home inspection ordered by the lender.
Finalization of the mortgage agreement.
Before you sign the closing papers, walk through the house you are about to purchase (amazingly things can change from the time you put in the purchase agreement to the closing, like the electrical box turns up missing or other things). Thus its imperative you take a final look.
Sign the papers and get the keys!
If you would like an additional checklist, you can download and print this PDF file for 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.