Buyer's Guides: The Basics

What you need to know before starting the home buying process

Lenders can help you

Working with a good lender will give you access to resources if you are needing to repair your credit or position yourself to meet the criteria they look for when offering a home loan.

Helpful Tips:

  • Pay your bills on time and in full

  • Limit how many credit cards you have

  • Keep separate checking and savings accounts

  • Stay at your current job for a few years - the longer the better

Here is an outline of the steps you will take as you prepare for home ownership:

 

Steps to buying a home

  • Figure out how much you can afford

  • Get pre-approval for a loan 

  • Lay out your budget

  • Search for a home you'd like to buy

  • Make an offer through your agent

  • Your offer is accepted, or review counter-offer

  • Closing

 

How much can you afford? 

The first matter to address is understanding how much you can realistically afford considering your financial obligations, including other loans or debts you may have. You will have to also factor in additional expenses such as taxes, insurance, utilities and maintenance that you can expect as a homeowner.

Get Pre-Approved for a Home Loan

A lender will approve you for a home loan if they feel confident you are able to pay it back. They factor in your FICO credit score, financial history, income, and financial obligations such as additional loans, child support, and debts. If you have a good credit score, you are more likely to be approved for a loan.

 

TO CONTACT OUR OFFICE & BROKERS

PLEASE CALL OR EMAIL US:

Mill Creek Office

15117 Main St. B106

Mill Creek, WA 98012

425-224-8400

hello@myrtc.net

Marysville Office

922 State Avenue

Marysville, WA 98270

360-651-1160

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