Find Your Perfect Home

Buying a new home is an exciting time. Keep the excitement alive by understanding how the home buying process works. Before you set out on house hunting adventures, check out these six steps to buying a home. You’ll find that you can step into meetings with home mortgage lenders and your real estate agent with confidence that you have the basics under control!

💯 Know Your Credit Score

One of the main things to consider when buying a home is your credit score. Understanding your score will give you a good idea of whether you will qualify for a loan. Your credit score has an impact on what interest rates and loan terms you’ll be offered. When you know your credit score you can also work out a plan on how to improve your credit rating if that needs to be done beforehand.

Order a copy of your credit report from the three main reporting agencies. The good news is that you can get these reports for free thanks to the Fair Credit Reporting Act. Visit to order your free reports from Equifax, Experian, and TransUnion. Once you have your reports in hand, take a close look for errors and delinquent accounts. Report errors immediately.

💰 The Importance of Saving Money

Very few people can afford to pay cash for their new home. It’s common for home buyers to need a home mortgage loan. While this loan will pay most of the sales price of the property, you may be required to supply a down payment that covers a percentage. It’s recommended that you have 20% of the cost as a down payment.

Aside from the down payment, you’ll want to have money set side to cover any closing costs, repairs, moving expenses, and other fees. It’s better to have more cash in savings than you need than to get caught short on cash.

👥 Find the Right Real Estate Agent

Finding a real estate agent that meets your needs should be a priority. Take everything you know about the current real estate market and place it in one pile. Now, consider everything that a real estate agent knows and compare the two piles. It’s easy to see that having someone with that kind of knowledge and experience on your side will save you time and money.

Look for a real estate agent who really listens to your needs and communities at the highest level. Set up a time to interview them. Write down any questions and concerns ahead of time so you’ll be prepared and not miss out on vital information. When it comes time for negotiations, you’ll be glad you took the time to search for a skilled real estate agent to be on your side.

📝Get Pre-Approved for a Home Mortgage Loan

A home mortgage loan covers the cost of your new home. You agree to pay the loan back, with interest, over a period of time. It’s a good idea to get a home mortgage pre-approval at the start of your home search. This approval benefits you in numerous ways.

The amount of the approval sets boundaries that will help you search for homes in the right price range. There’s nothing worse than finding the perfect house and learning that it’s way out of your price range. The approval also shows the seller that you have the ability to purchase their property. In a bidding war, this could turn the tables in your favor.

💵 Placing the Right Offer

Your real estate agent is the best resource when it comes to placing an offer on your chosen home. They understand the current real estate market, have knowledge about other homes in the area, and can help you create an offer that catches the seller’s eye.

🚪 What Happens After Offer is Accepted?

After your offer is accepted, you’ll move quickly into the inspection and appraisal phase. Once those are complete, you’re on the road to closing day. On closing day, you’ll sign all paperwork, pay any fees, and accept the keys to your new home. Your real estate agent will be with you every single step of the way to make sure everything goes as smoothly as possible.

Your real estate agent is the best source of information about the local community and real estate topics. Give the 10X Home Team a call today at 602-352-3600 to learn more about local areas, discuss selling a house, or tour available homes for sale. Ask an Expert here!

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