- Get pre-approved for a mortgage
- Select a Realtor
- Shop for your new home
- Make an offer
- Complete the purchase
Get pre-approved for a loan
Decide how you’d like to work with us – in person, by phone or online. Then start by having us pre-approve you for a loan. A First Choice Mortgage Company pre-approval letter demonstrates to Realtors and home sellers your ability to buy a home within a certain price range.
Select a Realtor
A Realtor can help you through the buying process. What’s more, since a Realtor’s services are paid through a commission from the seller, they don’t cost you anything. A good Realtor will help you decide exactly what you want in a home, what’s essential and what’s less important, learn your likes and dislikes, and save your hours of fruitless searching. Realtors are the first to know when new homes come on the market and can advice you throughout the home -buying process.
Shop for a home
This is the fun part. But remember to be a critical buyer. This is going to be your home – possibly for years. Here are some helpful tips:
Look beyond the cosmetics. Make sure the most expensive things to repair or renovate, things like the structure, plumbing, wiring, and heating and cooling systems are all in good shape.
Think about how the home suits your needs.
- Do you like the feel of the home? Is it you? - Drive around the neighborhood
- Is the home in an area you want to live?
- Are other homes around the one you’re considering comparable in value? Avoid buying a home considerably more valuable than neighborhood homes – you may have trouble with the appraisal. You may also have trouble getting your value out of the home when you want to sell.
Make an offer
Found a home? Decide what price you want to offer and your Realtor will present the price to the seller’s agent.
- Your Realtor will help you complete the real estate purchasing contract. The agreement will have important clauses protecting you and the transaction.
- In choosing a price, consider recent selling prices for comparable homes in the same area, how long the home has been on the market, and whether the home needs any major repairs. Your Realtor can help you assess all of these issues.
- See what closing costs the seller may be willing to pay. An eager seller may be willing to pay your closing costs. Be sure the purchase contract releases you without penalty if a home inspection turns up major problems or the home doesn’t appraise for the sale price.
- Write a realistic closing date into the agreement. While our loan process can be very fast, you’ll need time for the home inspection and negotiations resulting from that.
- If you need to sell your current home, try to make your contract conditional upon the sale of your home. If this request is rejected, give yourself a later closing date.
When submitting your offer you will need to provide earnest money. This is a cash deposit towards the down payment that shows your commitment to buying the home.
Complete the purchase
If you already have a pre-approval you are almost there. We recommend that you have your new home inspected by a reputable inspector. Once inspected, an appraisal needs to be completed. With the appraisal and completed loan documents, we will source the best lenders for you while you sit back and wait for an approval from the chosen lender.
Get started now
First Choice Mortgage Company has a large portfolio of lenders each with their specific loan products assuring you that we will be able to find a lender who will satisfy your specific mortgage needs. We are ready to help you with your mortgage needs. Contact us now to get a FREE, no obligations loan consultation:
Call 303-675-0026 7 days a week or get pre-approved online.
