Step 1: Pre-Approval
The pre-approval process is the critical first step in purchasing a home, as it determines how much you can afford and sets realistic expectations. By reviewing your credit, income, and assets, a lender can provide a pre-approval letter, which shows sellers you’re a serious buyer. This step not only gives you a competitive edge in a fast-moving market but also helps focus your search on homes within your budget.
Your REALTOR® and lender will guide you through the process, but keeping your finances steady is key—avoid opening new credit accounts or making large purchases, as this could impact your approval.
With your pre-approval in hand, you’re ready to start your home search with confidence!
Click here for a helpful one-page guide on what to expect during the pre-approval process.
Additional Steps:
Search & Showings
Offer & Negotiation
Escrow
Inspection
Financing
Closing