1. Learning about how much of a home you can afford is the first step to buying a house. This means you'll want to meet with a Loan Originator who will ask for important documents such as your W-2s, taxes, paystubs, etc. Once you submit all this information to them, they will be able to better determine the amount of money you qualify for.
2. House shopping is really about education! Once we know how much of a house you can/want to afford, then get to start touring houses in your specific price range! Wahoo! This is the best way to educate yourself on all aspects of a home. Prices, conditions, locations, etc.. You will become an expert in the market in no time!
3. You have found "The One!" The perfect home for you! Now we get to write up an offer. This means that we will prepare the terms and conditions of the offer that best fits your life. This is when you provide an Earnest Money Check as a deposit showing the Seller that you are serious about buying this home.
4. Congratulations! The Sellers accepted your offer! We have worked to negotiate and come to an agreement on all terms of your off! We are now under contract an the house is placed in Pending Status. The Sellers cannot accept any other offers and we are heading down the path of ensuring this home is a good/smart purchase for you!
5. Now is your chance to have a professional set of eyes walk through the property. Home inspectors have been through many homes in the area and have seen a lot. Walking through the house with the inspector is key to learning as much as you can and to ask all of your questions!
6. Behind the Scenes: The Loan Originator will pass your information to the Loan Processor who will then review all documentation, organize the paperwork and prepare the file for another review in underwriting.
7. Once most of the lender verification has occurred, your Loan Processor will order the Appraisal. The Appraisal is a third party who determines the actual value of the home. The Appraiser will conduct a separate inspection and write a report that will confirm (or deny) the the agreed upon purchase price reflects the current market. This ensures that you do not pay more for the house than what it is actually worth! Phew!
8. We are almost there! The Lender has another thorough review and verification of all the information you have provided them. There may be some last minute requests from the Lender, but at this point, it should be wrapping up nicely and sent to the Closing Department as well as Title!
9. The day has come! You and I will head over to the Title Company to review and sign all final documents with the Escrow Officer. You will bring your ID and Cashier's Check to complete/close the purchase of your new home!
10. And wa-la! You have recorded! Congratulations! The property is now officially recorded in your name with the State of Alaska! I will bring you the keys and you now are an official home owner!
Please note: For a longer, more thorough explanation of the Home Buying Process, please see Your Home Buying Guide.
2. House shopping is really about education! Once we know how much of a house you can/want to afford, then get to start touring houses in your specific price range! Wahoo! This is the best way to educate yourself on all aspects of a home. Prices, conditions, locations, etc.. You will become an expert in the market in no time!
3. You have found "The One!" The perfect home for you! Now we get to write up an offer. This means that we will prepare the terms and conditions of the offer that best fits your life. This is when you provide an Earnest Money Check as a deposit showing the Seller that you are serious about buying this home.
4. Congratulations! The Sellers accepted your offer! We have worked to negotiate and come to an agreement on all terms of your off! We are now under contract an the house is placed in Pending Status. The Sellers cannot accept any other offers and we are heading down the path of ensuring this home is a good/smart purchase for you!
5. Now is your chance to have a professional set of eyes walk through the property. Home inspectors have been through many homes in the area and have seen a lot. Walking through the house with the inspector is key to learning as much as you can and to ask all of your questions!
6. Behind the Scenes: The Loan Originator will pass your information to the Loan Processor who will then review all documentation, organize the paperwork and prepare the file for another review in underwriting.
7. Once most of the lender verification has occurred, your Loan Processor will order the Appraisal. The Appraisal is a third party who determines the actual value of the home. The Appraiser will conduct a separate inspection and write a report that will confirm (or deny) the the agreed upon purchase price reflects the current market. This ensures that you do not pay more for the house than what it is actually worth! Phew!
8. We are almost there! The Lender has another thorough review and verification of all the information you have provided them. There may be some last minute requests from the Lender, but at this point, it should be wrapping up nicely and sent to the Closing Department as well as Title!
9. The day has come! You and I will head over to the Title Company to review and sign all final documents with the Escrow Officer. You will bring your ID and Cashier's Check to complete/close the purchase of your new home!
10. And wa-la! You have recorded! Congratulations! The property is now officially recorded in your name with the State of Alaska! I will bring you the keys and you now are an official home owner!
Please note: For a longer, more thorough explanation of the Home Buying Process, please see Your Home Buying Guide.
