Q: One of my goals for the new year is to buy a home. I have never done this before and have no idea where to start. The whole process seems very overwhelming. Can you give me some advice on where to start?
A: Congratulations on making this big decision. You are right, there is a lot to the process. It is, most likely, the biggest financial decision you will make. As with everything, making the decision is the biggest step
. Most people need to have a mortgage in order to buy a home, so knowing that you are able to qualify for one and how much of a home you are able to buy is the best first step. This is done with the assistance of a mortgage professional. They will go over your options regarding loan programs, down payment options and explaining closing costs to you. Having someone that you trust, feel comfortable with and explains everything to you is extremely important.
Once you have your finances in order, then you are ready to start the home shopping process. Many people start by just looking online. This is a good start but a lot of times, that information isn’t always up to date or accurate. So, once you are pre-approved for your loan, it’s best to partner with a professional Realtor to work with on your behalf. Your Realtor will be able to educate you and help you navigate the negotiations with your offers. Realtors are paid via commission, paid for by the seller of properties, so it isn’t a cost that the buyer will incur.
Making the partnership with a mortgage professional and Realtor will give you the expertise and guidance you need to help you through this process.
This article is here to answer questions for you regarding home loans and the home buying process. I encourage you to email questions to info@sterlinglakecounty.com
Jacie Casteel is senior loan officer and branch manger at Sterling Mortgage in Lakeport. Submit questions to info@sterlinglakecounty.com.
