“The Reid Casey Team is the best! They are always available for questions and worked tirelessly to find a home that was best for my family. We never felt pressured to buy anything. They were always patient throughout the entire home buying process as my wife and I discovered through many viewings what we truly were looking for. We knew that Reid and his team were truly working on our behalf and in our best interest.”
“I could’t have asked for a better first-time home buying experience! Reid made us feel like we were his only clients. He is knowledgeable, always available and made certain we understood every step of the process! Thanks Reid for helping us find a home to start our new family!”
Step 1:
DETERMINE HOW MUCH YOU CAN AFFORD
Determine what you are comfortable spending monthly on a house payment and a lender can help you determine what price range you should focus on.
GET PRE-QUALIFIED AND PRE-APPROVED
For pre-approval, your lender will need W-2 statements, paystubs, bank statements, and run a credit check.
PREVIEW HOMES AND WRITE AN OFFER
After touring homes in your price range, I’ll assist you in writing an offer on the right home.
Step 2:
LOAN UNDERWRITING
After you secure a contract on the home you are purchasing, your lender will need additional documents from you to process the loan and begin underwriting.
HOME INSPECTION
The immediate step after any contract is to complete any inspections that the offer was contingent upon.
POST INSPECTION AGREEMENT
This form will be used after the home inspection and presented to the seller.
Step 3:
TITLE SEARCH
Title is the right to own, possess, use, control, and dispose of property. When purchasing a home, you are actually buying the seller’s title to the home.
APPRAISAL
An appraisal is an estimate of the value of the property. Although the primary goal is to justify the value of the lender’s investment, the appraisal can also protect you from overpaying.
FINAL COMMITMENT LETTER
After the lender approves your loan, you will receive a letter that stipulates the loan term and terms to the mortgage agreement.
Step 4:
HOMEOWNERS INSURANCE
Lenders also require proof of insurance on a home before issuing a mortgage.
UTILITY TRANSFER
Prior to closing, we will provide you with a list of utility providers for your new home.
FINAL AMOUNT FOR CLOSING
You won’t know the exact amount for closing until the last couple of days. Once the lender gives you this amount, you will need to wire the funds to the closing attorney.
Step 5:
A FEW THINGS TO BRING TO CLOSING
A valid government issued photo ID
Wire funds to closing attorney
Outstanding documents for title company or mortgage loan officer
WHAT TO EXPECT
The closing attorney will look over the purchase contract to determine what funds are owed and to whom, prepare documents for the closing, conduct the closing, make sure closing costs are paid, ensure that the buyer’s title is recorded, and ensure the seller receives any money due.
These are the most common fees that are included in the closing costs:
Prepaid taxes for escrow
Prorated taxes
Recording and notary fees
Title search and title insurance
Origination, application, and underwriting fees from lender
Appraisal fees
Local transfer taxes
Homeowners insurance
Homeowners association fees
Make a Big Purchase
Avoid making big purchases, like buying a car or furniture until after you close on the home. Big purchases can change your debt-to-income ratio that lenders use to approve your for a home mortgage.
Opening New Credit
Do not open any new credit cards or get a new loan without speaking to your lender.
Missing Any Current Payments
Pay your bills on time to keep your credit score from dropping.
Cashing Out
Avoid any transfers of large sums of money between your bank accounts or make an undocumented deposits. This could show as a ‘red flag’ to your lender.
Change Jobs
Be kind to your boss and keep your same job. Don’t look for new work right now, unless it’s a second job to make extra money.
“Reid was simply the best to work with! Wouldn’t recommend anyone else! He’s the best in business! He listens to exactly what you need and want in buying a home! It took us a few homes before we found the one we loved but we found it in a day!!!! He’s awesome!”
