Buying a home is a huge accomplishment, but it can also be daunting. Whether you’re a first time millennial homebuyer or you’re re-entering the homebuying market for your second (or third or fourth) home, this brief overview will give you an idea of what to expect as you go through the home buying process. From pre-approval to getting the keys, Brookfield Residential SoCal’s preferred lender – Loan Depot – is here with some helpful tips.
Pre-approval process. Getting pre-approved for a mortgage is the exciting first step to purchasing a home. This process is important because it will help you determine your loan range (aka what you can actually afford). Plus, getting pre-approved makes you a more attractive buyer. See Loan Depot’s video Why get Pre-Approved? to learn why.
Choosing a loan. Depending on your budget, location and how much you’ve been pre-approved for, there are a variety of loan options to choose from. And, as explained in the video Must Do’s, having your financial documents on-hand and ready will help expedite the process.
Down payment. Your dream of home ownership may be closer than you think, and it starts with a good savings plan. Today, there are a variety of options that will allow you to buy a home with less than a 20% down payment, so talk to your loan consultant about the different down payment options available.
Now that you’re ready to start your new home search, visit a Brookfield Residential neighborhood near you in Southern California to tour the new home options. Our helpful sales team is always on-hand to help you begin the home buying process and get you on your path to homeownership. We’ll be expecting you!