7 Steps to Buying Your Home | Step 3: Secure Financing

7 Steps to Buying a Home | Step 3: Secure Financing

Secure Your Financing

Before you fall in love with a home, you will want to make sure you complete this next step of the home buying process which is; to secure your financing. Unless you are buying with cash, you will need to obtain a mortgage loan and proof of that in the form of a pre-approval letter.

This is a step that many home buyers tend to skip and it can cause a lot of problems in the process if you don't have your approval quite yet. Keep in mind that sellers will want proof of your ability to buy before they accept your offer and in a tight market another buyer may end up with your dream home while you are left scrambling to get your loan approval. Knowing what you are comfortable paying with each month will help set a benchmark for what homes you look at. This is where your next team member will help guide you.

When selecting a mortgage loan officer, the same rules apply as when you choose your Realtor. There are plenty of lenders out there, however, if they are not a true professional they can end up costing you thousands of dollars in extra fees, higher interest rates, or even worse, cost you your dream home by failing to come through with your final loan approval at closing.

Our team's lenders have a proven track record and provide our buyers with expert advice time and time again so you know you can trust them to do the same for you. If you have less than perfect credit, little to no down payment, or any other concerns about obtaining a loan approval, don't wait to apply. Our lenders will help you correct any issues that might be holding you back. You can easily apply online to get started, and can often get pre-approved in less time than you think. Once you have that pre-approval in hand, you will then be ready to move to the next step, which is finding your new home!

Watch Our Newest Video: Idaho Home Loan Guidelines Improve Making Buying a Home in Idaho Easier

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What Past Client's Are Saying:

"John and his Team at First Mortgage Co. of Idaho help navigate through a lending experience that otherwise would be overwhelming. They take you through the process from start to finish and communicate all along the way and no detail is left out along the way. With the local contact, there is always someone on the other end to answer your call that you know has your best interest on their mind. I highly recommend reaching out to John no matter where you are in the process. They will NOT disappoint and you will walk away a very happy buyer." -Mark Egland

"Once again John and his team impressed me with outstanding customer service. I will continue to use First Mortgage in the future for all my lending transactions. John has assembled a Rock Star team to provide outstanding customer service focused on accommodating all of your personal needs. I really enjoyed the fact that I can submit all of my documentation online and communicate via email during the work day. Communication was always clear consistent and prompt! - Adam Kinney

"Absolutely wonderful team!!! John, Angie, and Krystle were the best to work with. They were always there to help and fast at responding. It's scary to buy a home for the first time, and I don't think you truly understand it until you've been through it. These individuals were very quick at returning calls/emails and very good at explaining the process (even if they had to do it a couple of times for me). They are a very patient group, and the best part is that there are NO SURPRISES! They truly want you to be successful and enjoy the process! Thank you so much!" -Amy E.