I want to share some great personal news with everyone. My husband, Levi, and I are going to buy a house!
We’ve bought and sold houses a couple times in the past but it’s been about 5 years since we sold our last home and have been renting ever since. This feels brand new all over again. I had no recollection of how complicated buying a home can be.
I invite you to join me as I share our experiences – from a consumer standpoint. This should be a fun and exciting ride (and maybe just a bit stressful)!
So far, we’ve kicked off our adventure in home-buying by getting pre-approval for a mortgage with a lender. I’ll be honest, dealing with money isn’t something I enjoy. Crunching numbers is not my cup of tea and I’d much rather just ignore them completely. However, the pre-approval process was relatively painless, with us just providing some of our basic information. The lender did their thing and the following day we were thrilled to receive a phone call notifying us that we had been pre-approved for purchasing a home.
The phone call was followed by a detailed email from our mortgage specialist outlining all the terms and conditions of our mortgage, explaining exactly what we needed to do to satisfy the requirements of said mortgage, and a bunch of jargon I didn’t fully understand.
This is where having a good mortgage specialist or broker is valuable. This morning I sent an email to our specialist with a list of questions a mile long. It’s very possible that the documents he sent me already explained or answered my questions but I didn’t understand it. He responded within a few hours with very detailed, clear, and concise answers and links to further information. Now I understand the important details and can proceed with the home buying process with confidence.
So we have been pre-approved to buy a house. We have money – well, financing anyways. Now what?