Step-by-Step: Navigating the Journey to Your First Home

Follow this guide if you are buying a new home.

This is what you should do if you’re buying a house for the first time.

The best ways to choose the perfect new home for you and your family.

Are you hoping to buy a new house but don’t know how? Don’t worry, this guide to buying your first home provides advice for choosing one that suits your budget and taste.

While many of us dream of owning a home, sometimes the fear of making the wrong decision holds us back. The main worry is cost and another big one is location, as many fear that their home will be far away from work or the places they frequent.

Are you looking to buy a house for the first time?

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This guide can help you walk you through the process while working with a real estate agent to buy your first home. Some people prefer to buy an older house to save money, while others long to have a brand new dream house.

As the first factor, Rocket Mortgage points out that the house hunting time can be up to six months to find the one that fits your tastes.

A complete guide to buying a house for the first time

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One of the first steps is a comprehensive search of websites, magazines and newspapers with information about real estate in your area to determine your wants, needs and ideal aesthetic. DO NOT forget to take note of the aspects that you liked most about the homes you are interested in. It is also recommended to monitor how long things remain on the market.

The second step to acquiring your first home is to consider how much you can afford to pay. Most lenders recommend that you avoid buying anything that costs significantly more than your annual earnings. It is important to consider your financial position when making a decision.

How do I qualify for a mortgage?

Your first home/PHOTO: Shutterstock

The next step is to get pre-qualified and pre-approved for a mortgage. Before buying a house for the first time, it is important to determine how much of a down payment you can afford and how much you can pay each month. For this you must provide your mortgage lender with some financial information.

You’ll also want to find a reliable real estate agent who can provide you with detailed information about neighborhoods and houses. They are skilled at negotiating, have a deep knowledge of the buying process and are familiar with the areas where you want to live.

Rocket Mortgage offers you these tips for finding a real estate agent. Consult with friends and family for referrals, and use social media to get recommendations based on the experiences of acquaintances.

Ask the real estate agent about their knowledge of the area, price trends, safety, transportation and schools. Consider speaking with their previous clients. Lastly, check licenses and make sure the real estate agent is registered and in good standing with the real estate licensing board in your state.

Now it’s time to start visiting houses with your real estate agent

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After having contacted a real estate agent, you will start visiting homes. During this step, it is important that you take notes so you can make an informed decision about which house is right for you. When you find the right fit, it’s time to make an offer.

Once the offer is accepted — you’ll want to get a home inspection. With the inspection you learn of any defects, damage and anything in the home that needs repair. You’ll also have an appraisal performed on the home to make sure it’s worth the purchase price. Once those are completed you’ll work with your lender to finalize your purchase and close on your new home.

Rocket Mortgage is here to help

Your first home/PHOTO: Shutterstock

Rocket Mortgage will guide you throughout the entire mortgage process. Rocket Mortgage will first ask you a few questions to assess your mortgage loan eligibility. This information will be used to provide mortgage recommendations and determine if we can approve the loan.

Once that happens, Rocket Mortgage will provide you with all the tools you need for your mortgage closing. You can also contact Rocket Mortgage at any time for assistance during this process.

Rocket Mortgage offers top-notch service, and our experts are there to give you advice whenever you need it. We can also help you with quick approvals for purchases or locking in your rate when there’s a drop in rates.

We invite you to explore all the available services Rocket Mortgage has for you by visiting Rocketmortgage.com .