We have all seen the headlines that report that buying a home is less affordable today than it was at any other time in the last ten years, and those headlines are accurate. But, have you ever
How To Buy Your First Home
Here's a detailed instruction on what to do:
1. Find a full-time, experienced Realtor. How do you know they are full-time and don't drive for Uber in their spare time? Ask them.
2. Determine a list of trusted loan officers that Realtor has used in the local market that know how to deliver on-time the information and documents in a timely fashion to finish your loan on-time.
3. Apply for and receive a fully approved loan rather than a pre-qualification. The difference is the first requires you to supply all the documentation that proves your earnings, credit report and debts, and allows the loan officer to have the underwriting department review your file and approve it, pending the locating of a house, the home inspection, and appraisal of that house and then final underwriting.
4. Once you have a fully underwritten approval letter, you are ready to start looking for a house. You may start the looking online, but it is best to let your Realtor know what you would like to own and to have an idea of where you would like to live. You can look on this website for homes and keep a list of your favorites.
5. Make an appointment to view homes in person. If you give me the list at least a day or more ahead of when you want to go out, it will allow me to set up a geographically friendly route and to make arrangements with owner-occupied homes to allow us access.
I will cover the offer in an additional post soon.
Tim Burroughs, eXp Realty Idaho, 208-409-7653
Tim has been a Realtor here since March 1, 1995. He was a real estate appraiser for three and one-half years prior to that. He completed over 1,200 appraisal assignments which allowed him to get to ....
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