If you are a first time home buyer, thinking of buying your first home – here’s what you should do:
Get Pre-Approved: This is absolutely the first step a First Time Home Buyer should do. The right way to getting pre-approved is getting a full analysis of your income, employment, assets and credit. Get started here
Hire a Real Estate Agent: Once you are pre-approved, hire a real estate agent who can show you houses and advise you on choosing the right neighborhood based on your needs. As a buyer, you dont pay any fees to hire the services of an agent.
Make an offer on a house: If you like a house, you need to make an offer to the seller to buy the house. In a seller’s market, it might take several offers before your offer is accepted.
Get into contract: When your offer is accepted by the sellers, you are bound by the terms of the contract. This can include deadlines to perform property inspection, appraisal, loan approval etc.
Get the loan processed: Work with your loan officer to submit all the documents to get the loan processed and approved.
Close the escrow: After the loan receives a final approval from the underwriter, you sign the loan docs. Post which, the loan is funded by the seller and the escrow is closed. You are now the owner of the house.
Why Arcus Lending for a First Time Home Buyer?
Working with first time home buyers is my specialty. In fact I wrote the highly acclaimed book – “First Time Home Buying 101”. When you work with me and my team at Arcus Lending, this is what you get:
Unmatched expert consultation – Get a free expert consultation directly with me where I guide you towards home buying process and answer any questions you might have.
Full extensive pre-approval – Most online lenders and large banks issue a pre-approval with little to no review of your documents. This often results in problems or a declined loan later when you are in contract. At Arcus Lending, we do a thorough review of your employment, income, assets and credit before pre-approving you. And if there are any red flags, we will advise you of ways to fix them.
Fast and Free pre-approval – We offer a complimentary pre-approval usually within 2-3 business days, sometimes even over the weekend. Other than the pre-approval letter signed personally by me, you also get a free copy of your credit report.
Rates and Service that big banks can’t match – Our fixed rates and fees are consistently better than large banks, saving you several thousand dollars both up front and over the course of the term of the loan. Also, our extreme focus on customer delight ensures you get the same experience that hundreds of our clients rave about. Check us out on Yelp and Google+ and you would know what we are talking about.
Introduction to a local expert real estate agent – After we pre-approve you, we don’t leave you hanging trying to find a suitable real estate agent all by yourself. We will make that connection for you out of several top agents we work with.
Want to know more about First Time Home Buying? Download our free ebook – How to Buy Your First Home