inception-app-prod/ZjdhYzhmNGUtMDQyMS00MGJlLWI2NTEtMDM4NTVkNWRmOGY1/content/2021/06/TrueLogo-PMS.jpg
  • Home
  • Blog
  • Property Search
    • New Property Search
    • Featured Listings
  • Helpful Information
    • Finding a lender
    • Recommended Lenders
    • What you should know when selling a house
  • Fun Things We Do
    • Got Egged?
  • About us
    • Our company
    • Testimonials
    • Contact
inception-app-prod/ZjdhYzhmNGUtMDQyMS00MGJlLWI2NTEtMDM4NTVkNWRmOGY1/content/2022/01/0030e759a6d6dedd44056ba227dc82d9078057e7.jpg
Michelle Starkey
Realtor, Broker Associate
5073174972
michelle@michellestarkey.com
Sign In
Sign Up
inception-app-prod/ZjdhYzhmNGUtMDQyMS00MGJlLWI2NTEtMDM4NTVkNWRmOGY1/content/2021/06/TrueLogo-PMS.jpg
  • Home
  • Blog
  • Property Search
    • New Property Search
    • Featured Listings
  • Helpful Information
    • Finding a lender
    • Recommended Lenders
    • What you should know when selling a house
  • Fun Things We Do
    • Got Egged?
  • About us
    • Our company
    • Testimonials
    • Contact
inception-app-prod/ZjdhYzhmNGUtMDQyMS00MGJlLWI2NTEtMDM4NTVkNWRmOGY1/content/2021/06/TrueLogo-PMS.jpg
inception-app-prod/ZjdhYzhmNGUtMDQyMS00MGJlLWI2NTEtMDM4NTVkNWRmOGY1/content/2022/04/ed772f2fe3715161ef27f92e940d45cac565a134.jpg

10 Steps for First Time Homebuyers

inception-app-prod/ZjdhYzhmNGUtMDQyMS00MGJlLWI2NTEtMDM4NTVkNWRmOGY1/content/2022/01/0030e759a6d6dedd44056ba227dc82d9078057e7.jpg
Michelle Starkey

Interested in buying a home, but don't know how to begin the process? Here are 10 steps for any buyer on how to go about purchasing a home.

1. Gather a down payment

How much do I need? Ideally 20% to avoid added fees. However, as low as 10%, 5% and 0% depending on the type of mortgage you get.

2. Check your credit score

What affects your credit score? Here are five factors that affect it: payment history, amounts owed, credit history length, credit mix, and new credit. The higher your credit score the better. A prime score would be 660-719 and a super-prime score is 720+.

3. Get pre-approved

Meet with a lender at a bank or mortgage company. They can help you figure out how much you can afford on a house.

4. Find your agent

Find someone who has lots of positive reviews, someone who has been recommended to you, and ultimately someone you feel you can trust to help you find your new home. You can look up agents in your area on sites like realtor.com, Zillow or HomeLight.com.

5. Go shop for a home 

Look online and see what's available in the area you want to live and in the price range you are looking for. Pick your favorites. Decide what "must haves" and "would be nice" features you are looking for. Do you want a new or used home? Narrow down your options and then reach out to your agent and have them take you to see the homes you've chosen.

6. Make an offer

Once you've found your house, whether it's a starter home or your dream home, make an offer, and make it an offer you are comfortable with. Some things that a seller may be looking for in an offer are: are you paying with cash?, have you been pre-approved?, are you needing to sell your home to fund the purchase of your new home?.

7. Get a home inspection

Have an expert take a look at everything in the home before you buy it to make sure everything looks good. 

8. Get a home appraisal

Most lenders will ask for an appraisal to be done.

9. Head to closing

This is when you pay all the various parties involved, pay your down payment, the closing costs, which can be anywhere from 2-7% of the home price, pay loan fees and ultimately get the keys to your new home.

10. Time to move in!

Enjoy your new home!

Print Details
Previous post
Next post
How Low Would You Go? The 55 Degree Squad Tells All
Putting Down Roots in Eagle Lake

Office Address

True Real Estate112 S Riverfront Drive #122Mankato, MN 56003

C: 507-317-4972

507-345-8783

Essentials

  • Looking for a property?
  • Wondering how much your home is worth?
  • How to find the right mortgage lender?

Consumer Protection & Privacy

  • Accessibility
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information.
inception-app-prod/ZjdhYzhmNGUtMDQyMS00MGJlLWI2NTEtMDM4NTVkNWRmOGY1/content/2021/06/TrueLogo-PMS%284%29.jpg

© 2022 All rights reserved

Created with Placester

Sign in

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Sign Up
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Get in touch

Leave us your details so we could contact you
Send
Succes! Your message was sent!
Great! Someone will be in touch with you shortly!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Account Verified!
You may now log in into your account
Go to the homepage
Verify your email address
In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link