We all know the old line about location, location, location. But buying a home takes research too. You will need to determine:
How much you can comfortably afford. The pre-approval process, which entails full documentation and credit check, is the best way to determine the numbers that are right for you.
How much cash you need to close. Knowing how much cash you’ll need to close and, ideally, consolidating those funds into one account will help to prevent stress and ease the process later.
What kind of property you really want. Single family home, multi-family home, condo, co-op, ranch are just a few. Whether you are open to several styles or have your heart set on one, narrowing your search will save time.
Where you want to be and how long you want to be there. You’ll want to strike a balance between buying what you can afford and buying what will accommodate your needs. Assess your plans for growing your family and how your income might grow to match. Planning ahead is sensible in today’s market.
How the process works. Generally, purchases include: an offer, acceptance, inspections, contract, loan application, appraisal, title, loan approval, closing/funding and moving in. Many steps can fall in between and the process won’t always occur in a given order.
It pays to speak with local experts early.
2055 W Iles Ave Ste C
Springfield IL 62704
LeaderOne Financial Corporation is an Illinois Residential Mortgage Licensee, MB 6760699. LeaderOne Financial has a full service office in Missouri located at 141 Triad West Drive, O’Fallon, MO 63366. Licensed by the Missouri Division of Finance, License #13-1776. Corporate Headquarters: 11020 King Street, Suite 390; Overland Park, KS 66210, NMLS ID #12007 http://www.nmlsconsumeraccess.org
This advertisement does not constitute a loan approval or a loan commitment. Loan approval and/or loan commitment is subject to final underwriting review and approval.