You’ve decided to buy a home (step 1), you’ve hired your agent (step 2)……now you are asking yourself: “how do I obtain financing for a home?” (step 3)…….

Step 3 is a critical part of the home buying process. Knowing your pre-approval amount will help narrow your home search.

Ultimately, your lender will pre-approve you for a certain amount, but YOU will decide what you’re comfortable paying every month. Remember, your lender only sees your finances on paper. It’s up to you to decide how much you’re willing to stretch your budget in order to get into your dream home.

Be sure to follow these six steps to financing your home:

  1. Choose a loan officer.
  2. Make a loan application and get preapproved.
  3. Determine what you want to pay and select a loan option.
  4. Submit to the lender an accepted purchase offer contract.
  5. Get an appraisal and title commitment.
  6. Obtain funding at closing.

This step may seem confusing, as your agent I will assist with walking you through the process.