Buying a home satisfies an accomplishment that many families dream about.

Before starting your home-buying journey, you might have a variety of concerns.

Shown below are some questions to ask when buying a home.

What Are the First Steps to Buying a Home?

Initially, it’s a wise idea to obtain a copy of your free credit report.

If your credit report contains errors, you can file a dispute with the credit reporting agency.

Also, you can organize your financial documents, such as recent pay stubs, recent W-2’s and several months of your most recent bank statements.

What Credit Score is Needed to Buy a Home?

Credit scores range from 350 to 850 points.

Buyers with excellent credit scores are typically offered the best mortgage rates.

You may qualify for an affordable home loan with a 580 credit score or higher.

However, with a down payment of 10% or more, you might qualify for a home loan with a credit score between 500 and 579 points.

How to Get Pre-Approved for a Home Loan?

It makes sense to get pre-approved for a mortgage before shopping for a home.

Real estate agents and home sellers may consider your offer ahead of other buyers who are not pre-approved to buy a home.

With a mortgage pre-approval from Mindful Money, buyers in Arizona, California and Colorado can shop for a home with confidence.

Simply Apply Here to get your loan application started online.

A licensed mortgage broker will review your qualifications for a home loan.

Will I Need a Down Payment to Buy a Home?

A down payment for a home is based on specific program requirements and your qualifications.

If you’re a qualified member of the U.S. Armed Forces or a veteran, you may be able to buy a home without a down payment.

USDA loans do not require a down payment for low-to-moderate income households who are purchasing a home in eligible rural areas.

How do I Find a House to Buy?

Make a list of items that you would like to have in your home.

Think about the approximate size, number of bedrooms and bathrooms that your family will need.

Consider the distance that you’ll comfortably travel to reach areas, such as work, schools, shopping, family and friends.

A mortgage broker can suggest several reputable real estate agents in areas where you want to shop for a home.

What is the Home-Buying Process?

Once you receive a pre-approval to buy a house, your search to find a home should begin.

Thereafter, loan processors will verify documents that you submitted.

When you’ve signed a sales contract for a home that you want to buy,

property inspections and an appraisal will be ordered.

Your loan application and financial documents will be reviewed by an underwriting team to ensure that you’re getting an affordable mortgage.

Unlike signing a lease to rent a home, you will need to successfully clear some additional steps to buy a home.

For more info about buying a home in AZ, CA or CO., schedule a call with Samantha Cooley.

Samantha is a licensed mortgage broker with more than 20 years of experience to guide you along your home-buying journey and to answer any questions that you have about the home loan process.