Purchasing a home can be a confusing process to navigate on your own. Follow these 5 steps to make the home buying process go smoothly and ensure your success!
- Step 1:
- Become an Informed Buyer. Why not take our HUD-certified Homebuyer Education (connect to our homebuyer education section) class to prepare you for the home buying process that you are about to embark on?Still getting your credit and personal finances in order? Take advantage of our Financial Coaching Program (connect to our Financial Coaching Program – CASH section) or meet one-on-one with one of our counselors to help get you ready to buy a home!
Classes are offered every month in both English and Spanish in Ventura County. Sign up today!
- Step 2:
- Get Pre-Approved for a Loan. Understanding how much you can afford to spend on a home is important to know before you start your search for the perfect place to call home!We recommend that before you begin your home search you contact one or more lenders to get pre-approved for a loan. In fact, in today’s market, you may not be able to make an offer on a home without having a pre-approval letter from a certified lender!
- The lenders will ask you for financial documents including tax returns, bank statements and pay stubs. They will let you know the maximum monthly payment you can afford.VCCDC’s Lending specializes in down-payment assistance for qualified first-time buyers as well as other unique specialty loans that could save you money.
- Step 3:
- Work with a REALTOR®. REALTORS® are here to assist you with your home purchase.From helping you find homes that are available, meet your needs, and stay within your price range, to helping you understand contracts and disclosure documents, working with an experienced Realtor can save you time and money and make your experience enjoyable.As a buyer, you pay absolutely nothing for these great services!
- Step 4:
- Decide What You Need and What You Want in a Home. Based on the amount that you are pre-approved for, you need to make some tough decisions.Consider the area you’d like to live, the number of bedrooms and bathrooms you’d like, whether or not you want a condo or a single family home, etc.Setting realistic expectations based on your price point and distinguishing between “needs” and “wants” is one of the most important (and difficult) steps in the home buying process!
- A professional Realtor can help you set realistic goals because they know the real estate market and understand the trends, what is currently available, and what you will be able to buy.
- Step 5:
- Start Home Shopping. Your Realtor will help you find properties that meet your needs.You will make offers on properties that you like and that you can afford.Once in escrow, your REALTOR® will help you every step of the way until you are handed over the keys to your new home!