The Home Buying Process

Get Pre-Approved

The first step when you decide to purchase a home is to find a loan officer and get pre-approved. The loan officer will gather your financial information and work history as well as check your credit report and determine how much of a mortgage you can qualify for. This process can be completed with a simple loan application taken in person or over the phone. If everything looks good you will be asked to come into the office with additional paperwork. Please remember to bring the following with you.

• Valid ID
• Last 2 years W-2’s
• Tax returns
• Work pay stubs
• Bank account information
• Payment for a credit check

Click here if you would like to Get Pre-Approved for a loan and we will have a loan officer contact you.

Click here for a copy of The Fair Credit Reporting Act & Your Credit History.

Click here for a copy of Don’t Be a Victim of Loan Fraud.

How Much Can You Afford?

It is important to budget your monthly housing costs to include insurance premiums and local property taxes as these items are generally paid on a monthly basis. You can use the following calculator to help you establish a monthly housing budget.

Click here to see How Much Can You Afford.

Searching for Available Homes

Once you have determined your housing needs and potential neighborhoods it is best to start an online search to locate suitable homes. This is the quickest way to find all available homes that meet your specifications.

Click here to begin your online home search.

Writing an Offer

After locating a potential home, we will run the latest comparables to help you determine a suitable offer. We will then walk you through the Purchase & Sale Agreement addressing your interests & concerns. Once we have completed the written offer, we will deliver it to the listing agent along with your loan commitment letter and earnest money check. The offer will cover all aspects of the sale including repairs, financing, possession and closing date and any other stipulations.

Click here to download a sample TN Purchase & Sale Agreement.

Signed Contract

Once both parties have signed the Purchase & Sale Agreement, a contract has been formed. From this date forward the clock will start ticking toward the final closing date. During this time, we will make sure the property has been inspected, that all repairs have been completed, that the appraisal and termite inspection have been done and that everything is taken care of for your successful closing.

Home Inspection

Now that you have a contract on your future home, this is the time for inspections and appraisals. The lender will order an appraisal of the property, a termite inspection will be performed and for your benefit you may wish to have a home inspection. The home inspection will be completed by a qualified individual whom will inspect the home for any current problems in the structure, plumbing, electrical, roofing, heating and air. Once the home inspection is completed you will decide which issues need to be addressed by the seller. Once all repairs have been made you will be allowed to have a reinspection and do a final walk through prior to closing.

Closing

This is the day you have been waiting for when both buyer and seller meet with their attorneys to sign all the necessary documents to transfer ownership from one party to another. Once all documents are signed and the transaction has been funded (money has been transferred to the seller’s attorney) you have closed on your new home and will be able to take possession.

Click here to download a copy of the HUD- Buying Your Home, Settlement Costs and Helpful Information.