A Home of Your Own

The home buying process

phase 1: determine home ownership

• What type of housing should I (we) buy?
• How much can I (we) afford to spend?

phase 2: locate and evaluate a home

• Where do I (we) want to live?
• What aspects of the home need improvement?

phase 3: price the property

• What is an appropriate market price?
• How much negotiation movement exists?

phase 4: obtain financing

• How much down payment is available?
• What are current mortgage rates?
• Can I (we) qualify for a mortgage?
• What type of mortgage should be selected?

phase 5: close the purchase transaction

• What is the closing date?
• What funds and documents will be needed for the closing?
• Is everything understood before the final signing?