Step 1: Make sure that you can qualify for a loan.
This step is very important for couple of reasons;
First, you will know if you can get a loan (pre-qualify or pre-approval) and for how much and if not qualified, at least you will know what you need to work on to be qualified in a few months.
The second reason, most Houston home sellers require that the buyer sends the pre-approval letter with the offer, otherwise, they are not going to consider the offer.
Third reason, so that you can have some expectations on how much down payment you will need to pay and closing costs, so you can plan accordingly.
I can’t tell you how many times people went out for months looking for a
house and then they found out that they are not qualified when they wanted to
submit an offer; I also can’t tell you how many times people lost a great deal
because their offer was not considered without the pre-approval letter and other
buyers got the house. You must have a pre-approval letter if you are serious about purchasing a home and most Houston Realtors, myself included, will not proceed with the process until the client has one.First, you will know if you can get a loan (pre-qualify or pre-approval) and for how much and if not qualified, at least you will know what you need to work on to be qualified in a few months.
The second reason, most Houston home sellers require that the buyer sends the pre-approval letter with the offer, otherwise, they are not going to consider the offer.
Third reason, so that you can have some expectations on how much down payment you will need to pay and closing costs, so you can plan accordingly.
You can contact a Houston mortgage lender for pre-approval or contact me for a list of lenders in the Houston Area. I have lenders I highly trust and recommend.
Step 2: Start looking for houses. I will set up a page based on what you are looking for as far as how many bedrooms, bathrooms, price range, location, size, school district, etc and you will receive alerts on all the houses that meet your searching criteria for you to look over and review. After reviewing them thoroughly you can then decide which ones to delete or to save as "possibilities." I highly suggest and my clients actually do this, is to take a day to drive around and look at the homes on your list and take that time to check out the neighborhoods, etc. By doing this you are able to eliminate or keep many of the homes you have on your "possibility" list and this is a great time saver when it comes to the actual day to look. Once you are ready we can go view the houses you like on the list.
I will not talk in details here about the remaining steps as I will be working with you and guiding you through the whole process step by step but here they are:
Step 3: Making an offer
Step 4: Have inspection
Step 5: Remove contingencies, if any
Step 6: The loan process
Step 7: Closing & Key for your new house
If you have any questions please call me at 281-326-HOME and please visit us at www.davidthelocator.com I look forward to hearing from you soon!
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