Steps to Home Purchase in Wisconsin, Florida, Minnesota and Florida

Some people seem to think that buying a home is like buying a car. Simply call a loan officer, get a check, and buy the home. The entire home purchase process is slightly more complicated. Here is a list of general steps that are involved with any home purchase.

1. Get your financial documents together - the last 30 days of your pay stubs, most recent 2 month bank statements, most recent quarterly IRA and 401k statements, last two year's W2's.
2. Find a reputable mortgage company to work with.
3. Work with your lender to determine a price range and a payment that is comfortable for you.
4. Give your financial documents to the lender so that you may be pre-approved for the loan. The full approval does not come until the home is appraised, the sales contract is agreed upon, and the title work for the property is clear.
5. Find a real estate agent to help you look for homes based on your price range.
6. With your real estate agent's assistance, visit homes that you like and that fit with your price range and location preferences.
7. Pick the home you wish to buy and submit a contract to purchase, using your real estate agent to guide you.
8. If your offer is accepted by the seller, schedule a home inspection.
9. After the home is inspected and there are no problems with the home, let your real estate agent and your lender know that you wish to proceed with the purchase.
10. The lender will coordinate with the real estate agent to have an appraisal of the home to determine the property's value.
11. Once the home is appraised, purchase homeowners insurance. Shop around and get comparable quotes from different insurance agents. Decide which quote is best for you and give the insurance agents contact information to your mortgage lender.
12. If you have to bring money to your loan closing, or settlement, make sure you bring it in the form of a cashier's check, a bank check, or a wire.
13. Go to the loan closing, sign all the pertinent documents, get your keys and enjoy your new home!

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