Zion Mortgage’s Home Purchase Loans.

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Home loan pre-approval in minutes
No fees, no obligation
Fast Closings, but will not rush you!

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HOME PURCHASE GUIDE

You’ll feel more confident about your home buying journey when you understand what is required of you and every other person who is involved in the transaction. This guide takes you through it, and shows you that you’re only  a few steps away from buying a home.

• Get your finances in order:  Check and know the contents of your credit report and credit score, make sure that you have enough money saved for your down payment. If you are planning on obtaining an FHA loan, the minimum amount of down payment is 3.5% of the purchase price.
• Get Familiar with the Mortgage Industry:  You are in the right place now, finding the right loan and lender is crucial to your home buying process. Our team of professionals will guide you through the loan process and you will always be in control.
• Get Pre-Approved for a Mortgage: Once you meet with one of our Licensed Mortgage Consultants you will know exactly how much you can afford and will be pre approved in minutes. We will provide you with the best tool you will have at the time of submitting your offer, A Lender Loan Approval Letter. Most sellers are looking for Mortgage qualified buyers.
• Determine your wants and needs: Buying a home is not as difficult as you may think, even if you are short on fund, but the process will go a lot smoother if you get familiar with your Real Estate Market and narrow down your wants and needs before you start looking for a home. “Do Not fall in love with the house until you have the keys in your hands.”
• Learn to work with Real Estate Agents: Real estate agents represent buyers, sellers, or both–and in some states they can work as neutral facilitators for either party. It’s essential to understand agent duties and loyalties before you make that first phone call. This will save you tons of money.
• Start searching for a Home: Your agent will give you multiple listing sheets to study. I’m sure you’ll also pick up House For Sale magazines and read classified ads in your local newspapers. You’ll probably spend time surfing the Internet for homes. You might even plan afternoon drives to preview neighborhoods. Those are all excellent ways to see what’s available.
• Make an Offer: There’s no one set of instructions that can cover all the differences in real estate laws and customs that exist throughout the United States, so the mechanics of making an offer and its specific contingencies depend greatly on your location. However, follow up on the advice from the professionals working for you, regarding your money rely on your Mortgage Consultant and regarding the Home follow your Real Estate Agent’s recommendations. At the end you should always be in control.
• Home Inspections and other tests: In some states, home inspections are accomplished before the final purchase contract is signed. In other states, inspections take place after an offer is finalized. No matter when you do them, it’s critical to decide which inspections and tests you want to perform.Talk with your real estate agent or other advisor to find out when inspections should be handled and if additional types of testing are important for your specific area.
• Last Minute Correction: As your closing date nears, everyone involved in your real estate transaction should check its progress on a daily basis, because staying on top of things means you’ll know immediately if there’s a problem that must be dealt with.
• Almost There: Most of your home buying problems are behind you now and you’re on your way to closing, also called settlement, the event that transfers ownership of the property to you. Just a few more things to learn, a few more things to do, and you’re there! Talk to your Mortgage Consultant for last minute adjustments, know how much you have to bring to the closing, be informed about escrows, perform your final walk through.
• You are at the Closing Table: You will encounter issues specific to your location and your transaction, issues that can best be explained and handled by your local real estate agent, your lender, your attorney, your closing agent, or others who are helping you complete the home buying transaction. Never hesitate to ask questions. Ask as many questions as necessary to help you understand the entire home buying process. You are making a long term commitment and spending a major amount of money–you’ll feel much better about the transaction if you stay informed and understand what’s happening every step along the way.
• NOW FALL IN LOVE WITH YOUR NEW HOME!!