Things that BUYERS should know

10 Steps to Homeownership

This list was created to help you better understand the basic steps to homeownership.

Step 1: How Much Can I Afford?

Get ready
Make sure your financial affairs are in order
Get an idea of what you can pay for on a monthly basis
Step 2: Work with an approved Lender to get a Pre‐Approval

This will identify the total amount you can purchase and monthly payments
Just because you can qualify for something doesn’t mean you should spend that much
Take Homebuyer Education

Step 3: What Kind of Home Do You Want and Need? Step 4: Shop For a Home

Step 5: Make an Offer

Step 6: Get a Home Inspection

Step 7: Apply for the Official Mortgage Loan

This is based on feedback from the Pre‐Approval with the Lender and the home you

identified

Step 8: Get Homeowners Insurance

Step 9: Close the Loan