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Buyer's Guide:
Home Buying Recommendations: Six Steps
1) Determine your home buying price range
Contact an Homeland Capital
Mortgage Consultant for help calculating your price range. Decide how you'd
like to work with us in person, by phone or online. Then start by having us
pre-approve you for a loan.
2)
Select a real estate agent or builder to ease home buying
A real estate agent can help you
throughout the buying process. What's more, since an agent's services are
usually paid through a commission from the seller, they don't cost you anything.
A good agent will help you decide exactly what you want in a home, what's
essential and what's less important, learn your likes and dislikes, and save
you hours of fruitless searching. Agents are the first to know when new homes
come
on the market and can advise you throughout the home-buying process. Homeland
Capital
Mortgage partners with the best real estate agents in your area. For help
finding a quality real estate agent, please call or use our short form
to discuss home buying.
Maybe your
dream is a new home. If so, it can be very challenging to find a builder that
understands not only your needs, but builds quality homes that you will be able
to enjoy for years to come. Homeland Capital Mortgage partners with the best builders in
your area.3) Shop for a home
Here's the fun part. But
remember to be a critical buyer. This is going to be your home possibly for
years. Here are some tips:
• Look beyond the cosmetics. Make sure the
most expensive things to repair or renovate, things like the foundation,
plumbing, wiring, and heating and cooling system are all in good shape.
• Think about how the home suits your needs.
• Do you like how the
home feels? Is it you?
• Drive around the neighborhood is this an area you want to live? Research
businesses and other features of the neighborhood with
Map Quest.
• Are other
homes around the one you're considering comparable in value? Avoid buying a home
considerably more valuable than neighboring homes you may have trouble with the
appraisal. You may also have trouble getting your value out of the home when you
want to sell.
4) Make an offer
Found a home? Decide what price you want
to offer and present the price to the seller.
• Use a standard form
real estate purchase contract (your agent will provide this). The agreement will
have important clauses protecting you and the transaction.
• In choosing a
price, consider recent selling prices for comparable homes in the same area,
how
long the house has been on the market, how hot or slow the market is, and
whether the home needs any major repairs. Your real estate agent can help assess
all of these.
• Show your Homeland Capital Mortgage Pre-Approval Certificate. It positions you as
a highly qualified buyer.
• See what closing costs the seller might be
willing to pay. An eager seller may share more of them.
• Write a realistic
closing date into the agreement. While our loan process can be very fast you'll
need time for the home inspection and negotiations resulting from that.
• If you need to sell your current home, try to make your contract
conditional upon the sale of your house. If this request is rejected, negotiate
a later closing date.
• Once your offer has been accepted, you'll need to
provide earnest money. This is a cash deposit (several hundred dollars to
several thousand dollars depending on the value of the home and the market)
towards the down payment that shows your commitment to buying the home.
5)
Complete your home buying purchase
If you are pre-approved for a loan, you're almost
there. The home simply needs to be appraised and a few other details taken care
of. You may be asked to provide your purchase agreement and other support
documents within the next business day or two to Homeland Capital Mortgage. With this
information and your property information, we're ready to process your loan.
6)
Close
Once
your loan receives final approval, you're ready to close.
Get started today and apply online for your home buying loan! It's fast and easy, with no obligation.
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MORTGAGE 101
Six Steps
