Home Buyer Checklist
This checklist identifies some of the important factors to consider when purchasing a home. An affordable sales price is one key factor but you will also want to ensure the neighborhood and house meets your family needs.
Take this checklist along when you go shopping for your house. It will help you evaluate the neighborhoods and assess the availability and condition of various features of up to three homes in a side-by-side comparison.
Home Loan Process
As you prepare to finance your home, it’s important to know what to expect long the way. You can be assured that Nelson will personally guide you through the process so you understand the next steps from initial application to obtaining your keys on the day of closing.
INITIAL CONSULTATION. Nelson conducts a pre-screening buyer consultation with all clients to ensure needs are discussed, clients understand their loan options, explains how to choose a lender, and ultimately ensures they have buying power when house hunting begins.
PRE-QUALIFICATION. The initial pre-qualification step allows you to convey any goals or needs you discussed with Nelson with a lender. Your lender shall explain various mortgage options and recommend the type that might be best suited to your situation. Based only on the information you provide to the lender, your pre-qualified sum is not a sure thing; it’s the amount for which you might expect to be approved. For this reason, being a pre-qualified buyer does not carry the same leverage as being a pre-approved buyer.
PRE-APPROVAL. Getting pre-approved is the next step, and it tends to be much more thorough. You’ll complete an official mortgage application, supply the lender with the necessary documentation to perform an extensive review of your financial background and credit report. From this, the lender can tell you the specific mortgage amount for which you are approved. You’ll also have a better idea of the interest rate you will be charged on the loan and, in some cases, you might be able to lock in a specific rate.
BENEFITS: With pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. Obviously, this puts you at an advantage when dealing with a potential seller, as they will know you’re one step closer to obtaining an actual mortgage.
The other advantage of completing both of these steps before you start viewing homes with Nelson is that you’ll know in advance how much you can afford. This gives you peace of mind knowing what price point you will be searching in pursuit of your home purchase. Ready for your Buyers consultation? CLICK HERE to schedule it NOW.