People like blog post with easy to follow steps, and people like blog posts with a set number of steps. Why this is makes no sense to me, but here it is my 9 step guide to financing your dream home.
1) Collect your financial information. This would be things like your taxes, your bank statements, any savings information about different accounts you may have, maybe a 401k statement or a brokerage account. In another blog post I go over exactly what I need as your loan originator, but for simplicity's sake, we will just say to collect your stuff so you have it ready.
2) Decide on your budget. This is a pretty important step as finding a house within your budget is about the only way to make this dream home a reality. I mean, you can say that the 20 million house on an island is your dream home, but we all know financing that dream isn't what this post is about.
3) Save your down payment, maybe you already have your down payment ready, or you are going to use the funds from the home that you are selling, either is cool, but if you don't have funds for a down payment then your dream home better be in an area where some hundred percent financing plans are available, or your selection is gonna be kinda small to choose from.
4) Get pre-approved through me to make sure that your budget lines up with what a lender is going to be willing to give you, and that the down payment you have is enough to cover the down payment required.
5) Actually find your dream home. Plenty of people will do this first, and those people usually never end up owning their dream home. Why? Because someone else will buy it before they get the other steps ready. But if you are one of the people doing it the right way, when you find your dream home you'll be able to make it yours.
6) Write an offer. Yeah this one is a pretty important one as well. If you never write an offer, the people selling it are not going to have a chance to let you buy it. So to make it super simple, you just call me up and say "Jaime I'd like to make an offer on my dream home" and then we do it!
7) Fill out a full loan application. I skipped the part about getting the offer accepted, as if it really is your dream home, you'll be willing to pay what is required to make it happen, if not, well then it wasn't really your dream home was it?
8) All the stuff in between application and closing. This stuff includes getting an inspection, and a termite letter, and ordering the appraisal. If you are working with me, and why wouldn't you be? I'll handle all these important steps for you and just let you know when to show up so you can hear what they have to say. There may or may not be some repairs that are needed and we may have to negotiate some more things, but that is for another blog post.
9) Closing day! Well you did it, you financed your dream home, and once again I have proven that making dreams come true is one of my many talents!
(not an actual picture of my dream home!!!!!)