1) Figure out how much you can afford
Calculate your monthly income and debt.
$______ – $______ = $______
Check your Credit Report and FICO score.
FICO SCORE: ________
Figure out your down payment
2) Get Pre-approved for a mortgage
Choose a type of mortgage
Fixed, Adjustable, Conventional, Government, Jumbo, Other: ________
Speak to a couple of different lenders and mortgage brokers.
Shop for the best interest rates and programs.
Interest Rate: ________%
Loan Term:_______ years
3) Determine what you want and need in a home
Choose a location (downtown, urban, suburban, rural).
Choose a type (single family, townhouse, condo, duplex, etc.)
Choose a price range. $_________ to $___________
Choose a size: ________ sq. ft.
Bedrooms ______ Bathrooms _______
Architectural Style (if desired): _____________
4) Research your target neighborhoods
Look online for information on schools, crime rate, traffic, zoning, etc.
Determine your work commute.
Scout local amenities, such as parks, shops, restaurants, etc.
5) Search for homes on the market at FICOrealtygroup.com
Sign up to be a member at FICOrealtygroup.com and receive tailored updated with all homes on the market for sale based on your selected location(s), and amenities you’d like in your next home. Ask us how by sending us an email at Homes@FICOrealtygroup.com or by calling us at (617) 851-3241.
6) Research each home you are interested in buying
We will pull comps to make sure the property’s at fair market. $__________.
We will provide you with all property disclosures. (if any) Such as liens, easements or other restrictions.
7) Make an offer
Determine the purchase price. $_________
Include contingencies, such as financial, inspection or purchase.
Spell out any special requests and repairs you want included in the sale.
Determine an earnest amount of money. $__________
Decide a move-in-date. ___/____/_____
Once both parties agree to the terms, sign the Purchase and Sale agreement (P&S)
8) Finalize the deal
Get the house appraised.
Appraiser contact: __________
Appraisal amount: $__________
Get a professional home inspection. Inspectors contact: __________________
Consider getting specific inspections for structural engineering, roof, termites, etc.
Choose home insurance company.
Complete loan process with the lender.
Do a final walk thru, prior to closing.
Set aside cash for the closing costs and down payment. $__________
9) Close the Purchase
Review the settlement document at least two days before closing to see how funds will be collected and distributed.
Get cashier’s check for the amount you need to bring to closing.
$__________ (includes down payment and closing cost)