SOM_Mortgage Process

THE HOME BUYING PROCESS

MEET WITH A REAL ESTATE PROFESSIONAL Discuss the type of home you’re looking for, including style, price, and location.

GET PRE-APPROVED You will need pay stubs, W2s, and bank statements. Knowing what you can a ord is critical to a successful home shopping experience.

MAKE AN OFFER Your agent will prepare the o er based on the price and terms you choose.

SEARCH FOR HOMES The fun part! Your agent will schedule showings and help you find the perfect home.

NEGOTIATION & CONTRACT It may take a few tries to get it just right, but hang in there. You’re on your way!

UNDER CONTRACT You and seller have agreed to the price and terms. The home is e ectively held for you until closing.

CLOSING This is the transfer of funds and ownership. A title company or an attorney typically acts as an independent third party to facilitate the closing.

FINAL DETAILS Perform due diligence, order the appraisal, conduct an inspection, and review terms with the lender.

CONGRATULATIONS! YOU ARE A NEW HOME OWNER!

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