Resources for Home Buyers
Buyer's To Do List:
- Before you purchase a home, there are some important financial decisions you’ll need to make. First, decide where you want to finance your purchase and get pre-approved for a loan. This lets you know what price home you can afford (you can find a full checklist for loan pre-approval below).
- Pick an area to start your new home search in. Think about where you’d like to live for at least the next few years and take into account what your needs and interests will be during that time. This may include researching things like work commutes and school districts to determine an area that’s right for you.
- Find a realtor that you’re comfortable with to help you on your search. The right realtor will be a valuable resource to you throughout the entire process of looking for and buying a home; ensure you’re working with someone credible and trustworthy. Remember that realtors can show you other realtors’ listings too, not just their own.
How do I get pre-approved for a loan?
A great first step in buying a home is going through an informal evaluation of your finances to determine if you’re ready to buy a house. This process, called mortgage pre-approval, tells a potential lender about your income, credit score, debt, and assets and liabilities to see if you qualify for a mortgage.
- Before contacting a potential lender, check your credit reports, including your credit score and credit history. The higher your credit score, the better the mortgage rate you’ll qualify for!
- Determine how much money you have to put towards a loan every month. This will help you to better evaluate your options when the lender makes a recommendation.
- Gather your income, financial, and personal information. Lenders will want to know your social security number, your income history including current pay stubs and W-2 forms from your employer, federal personal income tax returns,
- Your social security number and personal identification such as a driver’s license
- Your income history, including W-2 forms and recent pay stubs
- Personal bank statements
- Federal personal income tax returns for the previous two years
- Research your different lending options. Contacting multiple lenders can help you determine your best financial partner as you go to purchase a home.
How Coffey Realty Can Help in Your Home Search
Our team of realty industry experts has been helping individuals and families find their dream home since 2016. We’re a family-owned business with a unique dedication to the needs of our clients, and we provide guidance throughout all steps of the home buying and selling process. Coffey Realty currently provides realty services in Clarke, Decatur, Lucas, and Wayne counties. Reach out to us with any questions or to get started on finding your new home today!