After trying to get a home loan in America, a house in installments in America, we go to talk about the important steps in the steps of buying a home in America.

 

Steps to buying a home in America

In the following lines, we will mention the steps for buying a home in America:

 

Find the right home

When the borrower wishes to obtain a real estate loan, he begins by searching for the most important companies and sites that allow access to real estate listings, and then write down the information about homes as much as interest.

 

Determine the available price

By calculating the amount of his monthly income, the value of the required housing price is determined, and the price of the house must not exceed (3-5) times the annual income of the individual or family, and that he can pay 20% of the total price of the housing.

 

Find a real estate agent

Real estate agents are considered one of the most important pillars when buying a home, as they provide the borrower with a lot of information about the neighborhood and housing.

 

They also have high negotiating capabilities, and the biggest advantage is that the value of their work is paid by the seller in the commission that he pays.

 

Prior authorization for credit

A request is submitted to inquire about financial information to the personal real estate bank, such as: (income - the amount of available savings), and here the lender will respond to you, and in the case of approval, financial documents are prepared to verify the borrower's status such as (salary vocabulary - personal account data - W-2 data of the borrower).

 

Gathering information about the desired home

The borrower begins to search for the appropriate house and collect a lot of information surrounding it, such as: (taking pictures - taking notes - plumbing - electricity - windows and doors - making sure that it is safe from facilities and licenses). Here, after collecting a lot of information, the borrower can make a decisive decision.

 

Choosing the right loan for the need

The services of lenders offer a lot of many choices, among which there are very competitive cases, the payments that each borrower is willing to pay monthly, and the value of the increase in interest over the repayment period is taken into account.

 

Final home evaluation

The lenders will set a date for the inquiry and evaluation of the house required to estimate its actual value by neutral real estate experts, and this helps all parties as they make a controlled assessment of the value of the house on the part of the borrower, and not waste money on the part of the lenders.

 

Spend paperwork

After the borrower submits a lot of required documents and checks them, the lender verifies the authenticity of the home papers by the owner, verifying the borrower's submitted papers, and then the loan termination procedures are initiated.

 

Ending loan business in America

The lenders prepare the papers, complete the inspection and examination, summon the borrower and sign the papers to complete the loan procedures and installment bills. After a few days, the check is delivered to the seller and the borrower goes to the required housing.