Are you in the market for a home? Whether you’re a first-time homebuyer, or you’re a seasoned
home-shopper, there are multiple steps that need to be completed to purchase a home, and we
are here to break it down for you. While there are more than five steps in the path to
homeownership, the following five steps are vital in getting you closer to move-in day.
Here are the five major steps that are needed to purchase your home.

Get Pre-Qualified

It’s important to know how much you can afford before you start shopping for a home. Set aside
an accurate and predictable budget that matches up to what kind of house you need and what
your home expectations will look like in the future as well. Getting pre-qualified through a
mortgage company before you start shopping will provide you with more time to find out your
approximate budget and what type of home you want to buy. Whether you prefer a 1–2-
bedroom condo in the city, or a larger home in the suburbs, the choice is ultimately up to you.

Find a Home

Shopping for homes can be seen as a daunting task, however, with the right realtor on your side,
you will be able to find an array of homes within your budget that, most importantly, meet your
expectations. It may take a few months before you find the right home, but once you find it, you
will already have a pre-qualified mortgage to put down an offer. Since the market is currently
competitive, some home-buyers will write a letter to the seller explaining why they want this
particular home, and why it is important to them. The more you stand out, the better chance
you will have of receiving an acceptance of your offer.

Pick the right mortgage program for you

There are multiple types of mortgage loan programs that could potentially fit your needs. In
order to find the right loan for you. Peoples Mortgage Company includes everything from a
conventional mortgage loan to a jumbo home loan, government-funded mortgage loans (USDA,
HUD, etc), and VA home loans for veterans.

We have broken down the mortgage loans we offer with this list.

Don’t skip the appraisal

Before you finalize your home purchase, make sure that the home value adds up to what you’re
paying. An appraisal determines the home’s value to ensure it is worth the loan amount that
you’re applying for. Skipping the appraisal will likely cost more money for you down the road if
you run into problems with the home. While skipping the appraisal may save you time up front, it
can be costly if you miss something important.

Closing on your HOME

Once you have completed the prior steps for getting pre-qualified for your mortgage loan, to
finding the perfect home, and completing the appraisal process, you’ll be ready to purchase your
home! The path to homeownership can be lengthy, however, with the right resources and
knowledge, you’ll be well on your way to accomplishing your goals.

Now let’s start shopping for your home!