Step 3: Secure Financing
Many times this is the part that steers people away from home ownership and starting the process of looking for a new home; not knowing, or assuming, what you can or can’t afford. There is only one sure-fire method to find out. Meet with a lender and prequalify!
There are six steps to take in securing financing for home ownership:
1. Choose a loan officer.
2. Make a loan application and get preapproved.
3. Determine what you want to pay and select a loan option.
4. Submit to the lender an accepted purchase offer contract.
5. Get an appraisal and title commitment.
6. Obtain funding at closing.
Meeting with a lender can help you determine how much you can borrow, though you are the deciding factor in what you can afford. But what if you can’t borrow the amount that you feel you can afford?
A lender can also help you with this. They can target areas with you that will help you get on track with where you need to be to purchase that new home for you and your family.
Purchasing your own home is a great investment in both yourself and your family. Not only are you investing financially, but you are emotionally planting stakes and saying, “We are joining this community and providing a safe place for my family to return to and recharge for their next expedition out into this community.”
Whether your looking for a home for your family in northwest Las Vegas or another part of the valley, DaLea help you take the next step to home ownership.