HOME BUYING CHECKLIST A Variables to Consider and the Mortgage Process There are many variables to consider when you're finding your new home. Deciding what elements are "must haves" and what elements are "wants" is extremely important. Getting a mortgage may seem overwhelming at first, but don't worry, Top Notch Home Team works with the best loan officers in town. We would be happy to help guide you to the best starting point in the mortgage process. 5 Some Common Home Variables Where do you want to live? What monthly payment works for you? How big a home do you really need? How many beds and baths must you have? What size lot do you want? How many garage spaces do you need? Some Common Neighborhood Variables Is there a Home Owners Association? What school district is it in? What does re-sale value look like? Is there any crime there? What are the local parks like? Did You know? In Colorado almost every Seller will require to see a pre-qualification letter before accepting an offer! Before looking at homes obtaining a prequalification, or pre-approval letter is essential. Not only will Seller's take your offer more seriously, but you'll save time by not looking at homes that are out of your budget. Factors to Consider for a Loan If you qualify for VA, FHA or a Conventional loan How much you want to spend If you need down payment assistance Loan closing costs A 30 Year or 15 Year loan What special programs you qualify for Things to Not Do Once Qualified Change or quit your job. Buy a new car, truck, or motorbike. Co-sign on a loan. Spend money set aside for closing. Originate any new credit checks. Buy furniture
of Assessment Wants and Appraisal Underwriting the Search for Start New Home Your Process and Loan Work Starts Title Days Before The Closing and Negotiate Write Offer an the Negotiate Inspection HOME BUYING OVERVIEW A What You Should Expect In This Home Buying Process Set expectations. Ask any questions. Meet the Team Establish Wants Vs. Needs. Find your home using our IDX integrated website. Coordinate with us to view the homes. View 4 - 6 homes a day. Discuss the offer terms with your Agent. Write and send offer through CTMe Contracts. Seller has the right to accept, counter, or reject. Go Under Contract Inspection and Earnest Money timelines begin. Transaction Coordinator starts processing the deal. Contract sent to Title and lender. Earnest Money deposited. Title requests necessary documents. Lender requests any necessary documents. Schedule an Inspector, and attend the inspection. Write Inspection Objection with your Agent. Negotiate all repair items. Final Issues 6 Review appraisal results. Negotiate any appraisal issues. Provide lender and Title any further documents. Loan gets Clear to Close. Closing scheduled by all parties. Closing disclosure provided with all funds due at closing. Schedule final walk through of your new home. Schedule utility turn on. Close the deal.