Steps to purchase your home:

Pre-purchase preparation by managing your: Income, Assets, and Liabilities.

1 - Consistent income for at least 2 years, recent graduates can use their education to qualify their education as time spent towards work.
2 - Have some savings for down payment and at least 2 months in reserves for future mortgage payments. The more down payment you have, the lower the monthly payments.
3 - Maintain a good credit: by having 2 years of on time credit payments, try and keep low liabilities balance vs the total line of credit for each credit card or liability.

If you feel you are ready to purchase a property, your first step is to contact us to get a general idea, our consultation is free of charge.

Here are the steps in your purchase endeavor:

1 - Contact us, to get pre-qualified or pre-approved to see how much you qualify for, by talking to one of our loan officers.
2 - Once you have a good idea of your qualification, get a real estate agent that you feel comfortable working with, or a lawyer if you want a lawyer to write you the purchase sale offer.
3 - Look at houses within your qualified price range.
4 - Make a purchase sale offer and get the offer accepted by the seller.
5 - Additional documentation gets reviewed by the lenders underwriter to determine final eligibility of the file.
6 - Meanwhile inspection and appraisal are being ordered.
7 - Choose your insurance company for the hazard insurance of the property.
8 - Once all document conditions have been satisfied by the underwriter, then the file is considered clear to close and you will sign final signing at the chosen escrow company that was agreed upon on the purchase sale.
9 - Escrow company receives funds from the lender, and also from you the buyer, and prepares package for final signing of documentation.
10 - Final county recording is done by escrow company and property is officially transferred to you the new owner, with the mortgage lien also recorded on title. Sellers then get their money for the sale of the property.
11 - You then get the keys of your home from either the real estate agent, or the seller.
12 - And finally, move in to your new home.

IEMTG
Phone: 206-334-2238

Consultation is free of charge. We only get paid when your file closes successfully.