Comprehensive Guide for Buying a Home
Get Pre-Qualified for a Loan
The first step towards buying a home is to get pre-qualified by a lender to determine how much you can afford to spend on a home. In some cases you can afford more home than you need and a good lender will encourage you to be conservative and not stretch your budget to the point of adding stress to your life. (READ MORE)
Get Pre-Approved for a Loan
Pre-approval is the formal process of getting a loan and the lender will want to get a check from you for the application fee. The fee will be used to order a credit report, and is a show of good faith on your part that you are serious about purchasing a home. (READ MORE)
Choose a Real Estate Agent (Realtors)
In Texas it is customary for sellers to pay the real estate commission to both realtors, so it makes sense for you to choose a realtor to represent you as buyer’s agent. A few realtors may want you to sign a buyer’s agreement with them stating that if you buy a home you will only be represented by them, but for the most part that is not necessary. (READ MORE)
The Title Company
The Title Company is where the home purchase comes together, after all the hard work and preparation by the lender, realtor and you. If you are ever purchasing a home or any other property and someone suggests closing without using a title company or getting title insurance you should not do the deal. (READ MORE)
Closing
Closing is the term used for going to the title company and signing all the documents in conjunction with finalizing the loan with the lender or Mortgage Company and finalizing the purchase of your home. Parties that have a personal attorney may want to have the documents reviewed by that attorney prior to signing. (READ MORE)