The Home Buying Process Step by Step
Here’s a simple outline to help you prepare for buying your new home. With Tolaris Realty as your partner, we’ll help guide you through the home buying process. At Tolaris, we’re here to make it all easier. Start Here!
Step One: Loan Approval
One of the most important steps in buying a home is to get Pre-Qualified for the purchase. Before you begin to shop, enhance your buying power by getting Pre-approved through a recognized lender.
By getting pre-qualified, the lender and Tolaris Realty can help you determine how much home you can afford. It’s based on specific financial information you share with your lender. The lender does not verify this information initially, and consequently there is no guarantee you will qualify for the loan amount. Remember, getting pre-approved requires that the lender verify the information you’ve submitted, and only them can they provide you with a document that you can take through the process as you start to look for a home. This document or pre-approval letter gives you significant buying power with a seller who recognizes you will be approved for a loan.
Time for Pre-Qualification
Pre-qualification process is an informal discussion between you and lender. The lender estimates the amount that you can borrow based solely on what you tell them about your income and assets. So it pays to be truthful. At this step, the lender doesn’t verify your informantion and is not bound to make a loan when you’re ready to buy. It is simply a guide by which you know the range of home pricing you may be qualified for. On the other hand, loan approval is based on documented and verified information regarding your employment, your income, your liabilities, your assets and the cash you have available to close the home you choose.
Strengthen your Case. Pre-Approval Is a Better Choice
Absolutely! To a seller, a lender’s pre-approval letter is considerably stronger than a pre-qualification letter. If a seller knows your financing is secure, your offer is much stronger. Pre-approval also gives you peace-of-mind as you shop for a home, knowing that you will qualify for the mortgage amount you seek.
To learn more about assistance with mortgage services, click here.
Step Two: Get To Know The Market
Our in depth web site is the efficient way to search for properties throughout Florida. We also have particular knowledge of the Central Florida area including Orlando, Sanford, Lake Mary, Altamonte Springs, Maitland, Winter Park, College Park, Metrowest, and Kissimmee. We also offer property information from almost every real estate company in the area. To start your search, click here.
Step Three: Choose A Professional You Can Trust
With over 20 years in the Central Florida area Tolaris Realty has a select group of experienced professionals to help you through the home buying process. Choose a Tolaris Realtor who understands the market and who has the time to pay close attention to your needs. It’s called personal services…something we haven’t forgotten about at Tolaris Realty. To find out more about Tolaris Realty and our agents, click here.
Step Four: Get A Mortgage That’s Right For You
The excitement begins! When you’ve found the right home, Tolaris Realty makes it easier with one-stop shopping for a broad selection of lenders and loan products through our preferred partner program.
New To The Area?
We’re relocation specialists! If you’re making a move into the region our team is here to help you find just the right community, a great associate and the perfect home, who knew moving could be so easy. Click here.