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Are You Ready to Buy? What are the Necessary Steps?

Are you considering purchasing a home? Perhaps you currently rent and have heard from friends and family you could save money each month and build personal equity if you actually owned a home. Owning a home as a first time homebuyer can be exciting, and you no longer have to listen to a landlord!

Maybe you are looking for a larger home with more space, a large backyard, or deck for entertaining… maybe you simply outgrew the home you are living in now. From paint color to flowerbeds, it’s your choice in your own home!

So now that owning a home has gained your interest, the first real question for you is how much home can you qualify for? You will need to speak with a mortgage advisor, also referred to as a lender, who can be found at your local bank. You can refer to Myrean’s Library & Resources to locate a nearby, recommended lender. The lender will let you know exactly how much of a loan you can qualify for. This provides you the price range of home to search for.

Before visiting the lender, you may want a bit of preparation. Go ahead and organize a number of items including your last two tax stubs, or last year’s tax returns if you are self-employed. Also bring your id and social security number. Each lender will have lender specific items to collect once you speak with them.

At the lending institute, you’ll fill out a quick application and the lender will pull your credit history to gain an understanding of your credit standing. The higher the score the better, but don’t worry… if your credit isn’t quite high enough or your circumstances are not quite where they should be, most lenders will set you up on the right track. This could mean providing you assistance or tips on increasing your credit for example. A lender’s goal is to get you to a qualifying position.

Now once you get the pre-qualification letter, it’s easy to upload to Myrean’s Buyer Dashboard. This shows Sellers you are serious about purchasing, qualified financially and are who you say you are when you show up to tour the home.

Next comes the fun part. You get to search through all properties on the market, and thanks to Myrean’s Social, you also get to show potential home sellers exactly what you are looking for! Just log in and create your Dream Home Profile.

Be as specific as possible. Such as typing screened in porch, spacious and fenced in backyard, kitchen nook or items such as hard wood floors in your features tab. You never know who may have just the right home for you and you don’t want to submit an offer on an existing listing that has less desirable features.

Once you start compiling a list of homes you are serious about touring, reach out to the seller by simply clicking Schedule a Tour! It’s an easy way to set up a showing during a time that works for both you and the seller.

After touring the home, if you want to make an offer to the seller, great! Log in to Myrean and simple click on Submit an offer under the particular property. The Seller will immediately receive the offer.

Once accepted, Myrean will schedule the closing with a local closing company, and you are one step closer to moving in to your dream home! With the abundance of resources and the fully guided home buying process by Myrean, you will find purchasing a home has never been simpler!

admin 02.07.2018 0 322
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02.07.2018 (781 days ago)
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Buying (3 posts)
Selling (3 posts)