Things that BUYERS should know
10 Steps to Homeownership
This list was created to help you better understand the basic steps to homeownership.
Step 1: How Much Can I Afford?
Make sure your financial affairs are in order
Get an idea of what you can pay for on a monthly basis
Step 2: Work with an approved Lender to get a Pre‐Approval
This will identify the total amount you can purchase and monthly payments
Just because you can qualify for something doesn’t mean you should spend that much
Take Homebuyer Education
Step 3: What Kind of Home Do You Want and Need? Step 4: Shop For a Home
Step 5: Make an Offer
Step 6: Get a Home Inspection
Step 7: Apply for the Official Mortgage Loan
This is based on feedback from the Pre‐Approval with the Lender and the home you
Step 8: Get Homeowners Insurance
Step 9: Close the Loan
Sign all of the documents
This finalizes the financial transaction
Step 10: Celebrate!