Once you’re preapproved at the credit union for a home loan, you can start the fun part of the home-buying process…looking for a home! Let’s break down the process:
1. Document what you need—and want—in a new house.
2. Select a real estate agent—ask for personal recommendations from family or friends, and interview agents before choosing the best fit. Once you’ve selected an agent, meet face to face to review the criteria defined in step one.
3. Once your real estate agent sends you listings to review, select up to five houses for your first showing.
4. Take good notes after visiting each property…it’s hard to remember which is which afterward.
5. Once you find a property you like, revisit and ensure it’s what you want.
6. When you’re ready to make an offer, sit down with your real estate agent to define your offer terms.
7. Wait for a response.
8. Counteroffer if necessary.
9. When you’ve agreed on terms, schedule an inspection within three days.
10. Visit Wendy Bussa at Hopewell Federal Credit Union. We have great rates, and she will walk you through all your mortgage options step by step.
11. Wendy will walk you through the loan process. Note: You’ll need to find and pay for your first year’s homeowners insurance at this time.
12. On closing day, take time to read the documents you’re signing. Don’t feel pressured to hurry.
Walking through the home search methodically makes the process of buying a house much more enjoyable. Hopewell Federal’s are here for you along the way.
Copyright 2012 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.
Filed under: banking, credit unions, Financial Institution, Mortgage, Ohio, security Tagged: | Loans, Mortgage, Wendy Bussa
Inspections are a very important part of the home buying/selling process! It gives both parties a sense of security and confidence in the home that is being bought.