Steps to the home buying process

Step 1: Know how much home you can afford

How much debt do you have? What is your current monthly budget?

Step 2: Evaluate your credit score and history

Ensure it’s accurate and know what factors impact it

Step 3: Gather required documents

These include tax returns, pay stubs/W-2/proof of income, bank statements, gift letters (if applicable), identification, and rental history

Step 4: Pre-qualify for a home loan

The mortgage lender looks into your situation—debt, income, and available assets—and gives you an idea of the amount you will qualify for

Step 5: House-hunting

The fun part! Consider location and type of property—house, condominium, apartment, etc.

Step 6: Make an offer

Keep in mind that an offer is a law-binding contract between you and the seller. Be sure to hold all negotiations and contingency discussions prior to making your offer.

Step 7: Close

Once all negotiations, inspections, and the mortgage application have been completed, closing on your home can begin.

See how Crystal, a public school teacher, realized her dream of becoming a homeowner in Hawaii.


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