The process of buying a new home or refinancing your existing home loan
can be complex. Both activities involve decisions that affect your personal
financial situation. Whether buying or refinancing you will typically need to:
- Evaluate finances.
- Select a lender.
- Seek approval for a mortgage.
- Negotiate an interest rate.
- Obtain a mortgage.
- Complete home inspections and other tests.
- Prepare for and complete closing.
When buying a home, you also need to:
- Know how much you can afford through a mortgage prequalification or
preapproval, depending on your circumstances.
- Set goals for a home’s cost, location, type, size and features.
- Select and work with a real estate agent.
- Know how to evaluate the quality and value of homes you are considering.
- Negotiate a purchase contract.
- Purchase homeowners insurance.
- Purchase flood insurance, if required; consider purchasing it even if not required.
It is important to plan ahead. If you are buying or refinancing your
first home or your fifth, this article can help you manage either process.
|
Selling A Home
Selling A Home