Purchasing a home has long been part of the American dream, but many people find the process too daunting to complete. Our team at GVC Mortgage is here to turn your dreams into reality by walking you through the home buying process and giving you a positive, fulfilling experience. To help you get started, we’ve put together a simple walk-through of the entire process, from start to finish.
Decide on your new neighborhood
The first step toward home buying is researching cities and neighborhoods that appeal to you and your family. Be sure to think about your “must haves”. For example, do you want to be near a good elementary school, or perhaps shorten your daily commute?
Apply for home financing
This second step is essential. Before you start viewing homes, meet with a GVC loan officer to get pre-approved so you can limit your search to affordable properties. You will also receive a loan estimate with details of your proposed financing so you can begin to plan your new budget. Additionally, depending on your credit score, down payment, and other factors, you may qualify for more than one type of loan. Your loan officer will help you decide which one is the best fit.
Hire a realtor
In order to find the right home, it is helpful to work alongside a realtor. They will share their knowledge of neighborhoods and available properties, and help you negotiate a good price with the seller.
Arrange for a home inspection
You home will be professionally appraised as part of the process, but it is always a good idea to hire a professional home inspector as well. If any major problems are identified, you may be able to negotiate repairs or a repair allowance with the home’s seller.
Prepare for closing
Your loan officer will prepare a closing disclosure for you. This document clearly states the true cost of your home’s financing, the funds owed at closing, and any applicable conditions. You’ll also need to shop for homeowner’s insurance before closing.
During your closing, you’ll sign your loan documents and present funds to cover your down payment and other costs. Depending on your state, you may receive a deed of trust that secures your mortgage note and other documents related to your purchase.
If you’re thinking of buying a home in Indianapolis, apply now with the mortgage company that puts you first. If you already own a house, GVC can also help you save money by refinancing. Contact us today at (317) 564-4906 with any questions, or reference our online resources for more information.