When buying a home, it is important to understand the different types of mortgage options available and how they can affect your budget.
Fixed-Rate Mortgages
These mortgages have a fixed interest rate for the entire loan term.
Adjustable-Rate Mortgages
These mortgages have an interest rate that can change over time.
FHA Loans
These loans are insured by the Federal Housing Administration and are available to all qualified buyers.
Insurance & Title Policies
Insurance and title policies are an important part of the home buying process. Researching and comparing different policies can help you find the best coverage for your needs.
Understand Insurance Policies
Research the types of insurance policies available and what they cover
Research Title Policies
Understand the different types of title policies and their coverage
Compare Policies
Compare different policies to find the best coverage for your needs
Planning
Day 1:Research mortgage options
Day 2:Check credit score
Day 3:Find a real estate agent
Day 4:Start house hunting
Day 5:Make an offer
Day 6:Negotiate terms
Day 7:Secure financing
Day 8:Schedule home inspection
Day 9:Finalize paperwork
Day 10:Close on the home
Transfer of Ownership & Final Walkthrough
Signing of Purchase Agreement
Buyer and Seller sign the purchase agreement
Home Inspection
Buyer completes a home inspection
Appraisal
Buyer completes an appraisal
Loan Approval
Buyer receives loan approval from lender
Final Walkthrough
Buyer completes a final walkthrough of the home
Closing Day
Buyer and Seller sign closing documents and transfer ownership
Negotiation is the art of getting what you want from someone who wants to give you something else.
