Secure Financing: Step 3 of 8 to Buying a Home in Birmingham Alabama

Buying a home can be a daunting task. Because, most people only buy a home once every few years (or longer), we wanted to take the time to remind you of the steps involved in buying a home. This way, you can feel like you have some control of this home buying process.


We have identified eight steps to buying a home. These are:
1. Decide to buy a home.
2. Find a great real estate consultant.
3. Secure financing
4. Find your dream home.
5. Make a written offer and negotiate the price.
6. Open an escrow account. (Earnest Money)
7. Have a home inspection.
8. Sign the final documents, get the key, and move into your new home.

Step 3 is secure financing. Now, at this time I probably need to note that is very important to do. Often we have clients come to us who have already been approved or qualified for a loan. Doing this ahead of time will let you know where you should be looking. If you don't do this you will either fall in love with the home that is just slightly more than you can afford, will waste time looking at homes that don't meet your needs because you didn't know how much you could really get, or will take the chance of finding your dream home, only to lose it to another buyer, because you were waiting on the approval.

So, back to securing financing, getting "pre-approved" for a loan in the amount you are willing and able to borrow will put you in a stronger position to buy a home when you're ready.

Now that you know what you can afford, it is time to find your dream home.