When you are considering steps to buy a house, look at your credit score. Credit scores have ranges: a 580 to 669 score is rated as a fair credit score. Scores in this range will affect your rate and loan terms. Scores in the range of 670 to 739 are considered to be a mid-range to good score. Having a score of 740 is considered to be very strong. A score of 800 or more is considered an excellent credit score.

Budgeting before hunting can keep your expectations to a reasonable level. Understand your household budget and look to buy a house that is within a comfortable range. Be sure to include in your budget items that come with homeownership like utilities and maintenance. It’s also good to consider long term budget items such as a roof, painting or appliances that may need replacing.
This is a good time to see how much you can afford to place as a down payment on the home. A bigger down payment can help you get lower mortgage payments.

We are here to help you as early in the process as possible at Truliant. Talking with one of our Mortgage Loan Officers is a first critical step to a successful process. Most sellers request that you get pre-qualified for a home loan. This indicates a commitment on your part and shows you have committed to purchasing a home. Truliant understands your financing needs and can offer custom products to provide the best options in the market.

Real Estate agents represent either the buyer or seller. The seller normally pays all REALTOR^® fees related to the transaction. An agent can help you choose an area that meets your needs, including desired neighborhoods and schools. They may also have access to homes on the market that are coming soon or not yet listed.

With your agent’s guidance, it’s time to start hunting for a home. Taking everything previously mentioned into perspective, your REALTOR^® will provide you with a list of homes to visit. One by one, take notes on what you like and what you want to change. A new coat of paint is not a big expense, but removing a wall may be. Many homes can be toured virtually, allowing you to pick out which ones you want to go and inspect further.

The homeowner should have a recent inspection for you and your agent to review. If not, hire a professional inspector; it’s a few hundred dollars well spent. Pay close attention to things like the crawl space and the roof, as these can be costly to repair.

Once you have settled on your next dream home, make an offer on the home. Your agent will have data that will provide you with a reasonable number. Don’t overpay, but be realistic. The housing market can be in a sellers’ market or a buyers’ market. Your agent will be very helpful here. There will likely be negotiations during the process, but don’t let that deter you.

Closing is the final step in purchasing a home. Your loan has been approved and now it’s time for you to sign the papers and take possession. At closing, you will sign legal documents and pay the down payment and fees owed prior to getting the keys to your dream home. Both your Real Estate agent and Lender can recommend a closing agent to facilitate the transaction. The legal documents will be recorded at the courthouse. This is the most exciting part of the process. You will now be an official homeowner.