The Process

Purchasing a house includes locating a suitable property, getting financing, making an offer, obtaining a home inspection, and finalizing the transaction. Follow along as we walk you through this process.

DIVE DEEPER

Pre-Approval
Inspection
Appraisal
Closing
Strategies
Offer

Pre Approval

A mortgage pre-approval entails a lender examining your credit report and analyzing your financial status to determine your eligibility for a home loan and how much house you can afford. The lender will want many papers to verify your income, obligations, and assets, including pay stubs, tax forms, and bank statements. If you qualify based on these details, the lender will estimate the amount you may borrow and record it in a letter of pre-approval... read more >

Inspection

An inspection is a visual examination of a building's structure and systems, you should have it evaluated by an experienced and unbiased professional inspector prior to the final purchase. A thorough inspection involves a top-to-bottom visual evaluation of the structure. The state of the building, roof, foundation, drainage, plumbing, heating system, central air conditioning system, visible insulation, walls, windows, and doors are evaluated and reported by the inspector... read more >

Appraisal

An appraisal is a professional's impartial evaluation of a home's worth. Appraisals are almost always used in real estate transactions and especially prevalent in refinancing deals. In the case of a purchase-and-sale transaction, the appraisal is used to establish if the home's contract price is reasonable in light of the home's condition, location, and characteristics. In a refinancing deal, the appraisal ensures that the lender is not lending the borrower more than the house is worth... read more >

Closing

Closing is the step of the home-selling process in which money and documentation are delivered to the buyer in order to transfer property ownership. The closing date is the day when the seller formally transfers ownership of the property to the buyer... read more >

Strategies

To increase the chances of finding and purchasing the desired home, buyers can consider strategies such as saving for a down payment, improving credit scores, getting pre-approved for a mortgage, shopping for mortgage rates, negotiating with the seller, and working with a real estate agent. read more >

Offer

Consider your budget and be prepared to negotiate when making an offer on a home. Work with a real estate agent and consider contingencies and closing dates. Careful consideration can help ensure a strong offer on a home you love. read more >

Rates are always changing,
is now the best time for you?

We’ll help you understand your options so you can feel confident in your decision. Mortgage Daily is a trusted resource, used by millions of Americans daily, to help navigate the complicated world of mortgages, refinances, and the home buying and selling process. Let’s start here.

Refinance Your Home. When Is The Best Time?

Evaluate your financial situation and determine if a refinance could help you save. Consider lower interest rate, shorter loan term, access equity, long-term savings, and costs/fees. The best time is when it makes sense for your goals.

Purchase a Home. Take it 1 step at a time.

Evaluate your needs and finances to make sure you’re ready. Consider down payment, loan terms, monthly payments, closing costs, and other factors. You’re ready when you can afford it and it makes sense for your goals.

Selling Your Home. It’s Not Hard, Let’s Break It Down

Ready to sell? Evaluate the market and make sure you’re ready. Consider home improvements, pricing, taxes, closing costs, and other factors. You’re ready when you can maximize your return and it makes sense for your goals.

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION