One of the most crucial decisions you will make in life is purchasing your first home. It entails a lot of courage and determination. Along the way the complicated processes of purchasing may lead to discouragement, but it doesn’t have to be that way.

We will help you understand the basic steps before purchasing that oh-so-longed-for home, and help you each step-of-the-way when you do decide to buy your first home.

Basics to Purchasing Your Home

Preapproval. The best thing to do before searching for a home is to get the preapproval of a lender. During this process, you will work with our loan consultant. Our loan consultant will review your mortgage application and income documentation. The review will determine your creditworthiness and how much home you can afford.

Loan Approval. Once the seller accepts your offer on a home, your loan will then be processed. In this stage you will ask the help of your real estate agent, and together you will provide the purchase contract and title company information to your loan.

Closing. After your loan has been approved, we will prepare your loan documents and submit them to the title/escrow company for you to sign. After you have signed the documents, the title/escrow company will send them back to us for funding. After your loan has been funded, it is time for you to get ready to transfer to your new home!

Down Payment Assistance Programs (DAPs). There are programs funded by the government that provide down payment assistance. These programs are designed to help first-time home buyers who cannot afford a down payment on their new home. Certain restrictions apply, such as income limitations and home purchase price. Note that these programs are not always available, so you will need to check with your loan consultant.

Specialty Loan Programs. There are special loan programs designed to help first-time home buyers. You will need to talk with your loan consultant so you will know the best options for you.