Steps to buying a home

<<>> It is an American dream to buy your own home. It is a symbol of success. If you own your own home, then you are different. You are a home owner. Ownership will give you the freedom to do what you want with your bedrooms, carpet and walls. The improvements that you put into your home will seem worth it, because you have a chance to enjoy these improvements for years.

But buying a home is scary. If you buy a home the wrong way, you could be paying for it for the next 30 years. When I put down the deposit for my first home, I called my boss and told him I was backing out of the deal. Yes, this is after I put down my $1000 ernest money. I figured I'd be better off losing the money than facing my fears. He assured me that all would be OK. Everything turned out fine and I was the proud owner of my first home.

As a real estate appraiser, I’ve learned that some people are not so lucky. This is why I’m providing you with step by step instructions on how to buy a home.

In general, the process works like this. First, you get approved for financing. You will find a lender that lends money for homes. This is basically when you speak to a home loan officer or a bank representative. Next, they will pre-approve you for a loan. This is basically a piece of paper that tells you how much you will be able to borrower and how much the bank is willing to loan you bases on your credit, debt, how much money you’re making and the current interest rate.

Before you begin looking for a home, you will want to get your finances lined out. Try to pay off or pay down any credit card debt that you have and start saving money. Your lender will require you to have a percentage of cash that you will have to use for a down payment for your home. There are several choices on how to find the best financing to purchase your new home.

Here are the steps that you should take.