- Choose a lender, preferably a local lender, and apply for pre-approval. When you put an offer on a home, it is essential to send a “pre-approval letter” with your offer.
- Decide how much you are comfortable spending each month (you may qualify for more than you would be comfortable spending).
- Prioritize the things that are important to you in a home (design, features, yard, location, etc.).
- Look at several homes in your price range and satisfy yourself regarding value.
- Make an offer on the home that best suits your needs and wants. The purchase and sale agreement requires that an earnest money deposit be made on acceptance of your offer. These funds will be deposited in a non-interest-bearing trust account, and used to pay toward your closing costs.
*Make sure you have the funds available to cover your earnest money deposit, home inspection (+/- $500) and any required tests, such as well water samples (prices vary).