Our Easy to Follow 4 Step Homebuying Process
Step 1: Select your Team Real Estate Team and Get Pre-Approved for a Mortgage
Selecting a Real Estate Agent, a Mortgage Broker and obtaining pre-approval is an important first step.
Get pre-approved early! We cannot stress enough, the importance of going through the pre-approval process. In order to get pre-approved, you will need to choose a mortgage broker. Keep in mind that your broker should do more than find a loan. They should work with you to understand your complete financial profile and be the loudest advocate for making smart financing decisions.
Once you select a broker, get pre-approved. Far too many people make the mistake of looking for a home before they know their credit profile and what they can afford.
Getting pre-approved will:
- Tell you exactly what you can afford
- Save you time by narrowing your search
- Make your offer stronger in the eyes of sellers
- Allow you to make an offer very quickly
- Speeds up the buying process
Getting pre-approved is easy, will not harm your credit score, and does not obligate you in anyway.
Once you have been pre-approved, you will want to select a Real Estate Agent, if you have not already. See our Guide to Selecting the Best Real Estate Agent for You and get some helpful tips.
It is your real estate agent’s job to find the home for you. A good agent will spend time getting to know you, your wants, your needs, and your objectives and then go to work finding the home that works. They will give advice on pricing and offers, and when the time comes, they will put together your purchase offer and negotiate on your behalf
Step 2: Find a Home
Once you have an idea of what you can afford and have discussed your objectives with your agent, you will want to start looking for a home. Keep in mind: Every home search is different and progress cannot be measured in time spent looking. Sometimes this process is very fast and other times it can last for months. Have patience and you will be rewarded by finding a home you love at a price you feel good about.
For a detailed look at how to conduct a smart search, register for the California Homebuyer’s toolkit.
California Homebuyer’s Toolkit
Step 3: Choose a Mortgage and Make the Offer
There are a lot of mortgage options available and you will need help to sort through it all. Our California Mortgage Options Guide is a great place to start. You can also visit our Mortgage Education pages to compare loans and find one that is right for you.
Step 4: Close!
You’ve made an offer and the seller has accepted. Congratulations! But what’s next? See our Guide to Closing Real Estate Transactions where you will see all the steps involved. Remember, we are here to help you with any questions or concerns at any step of the process.
If you are more of a tortoise than a hare and just can’t get up the nerve to press the pre-qualificiation button, then we applaud you anyway. Somehow slow and steady usually wins the race and since we are patient people as well, we have put together the California Homebuyer’s Toolkit– loaded with great material, free of charge, to help you buy with confidence.
