Home Finance Guide

Step-by-step home finance guide

Many buyers consider the home financing process complex and confusing.

If you create a systematic, step by step plan, and then implement every step in the process you will be able to finance your new home and end up with the right Mortgage, at the best rate and terms with a minimum of hassle.

We have created that plan for you.
It is our “Step-By-Step Guide To Home Financing”
You can download it at the bottom of this page.

This article is an introduction
to the steps you must take to sell your home.

We have presented each step and have shown you the major factors and tools you will need to accomplish that step. Our comprehensive guide provides the details, and it will provide you with the actual worksheets, calculators and other materials described in this article.

Step 1: How Much Can You Afford?

Loan Application Checklist

  • Get the tools to shop around, and decide which institutions, terms, and Mortgage programs best fit your needs.
  • Affordability Calculator 
  • Rent vs. Buy Calculator 
  • How to get a free credit report.

Step 2: Selecting a Lender

  • See the wide variety of financial institutions, and all of your options
  • Use the Comparison Chart to determine which lender and type of Mortgage

Step 3: Selecting a Loan

  • What type of Mortgage is right for you?
  • Analysis of: Loan Rates, Terms, Down Payment, & Fees
  • Negotiate… Negotiate…Negotiate!

Step 4: Shop. Compare. Negotiate

We supply all the tools you need:

  • Loan Comparison Calculator
  • Mortgage Shopping Worksheet

2-additional calculators

  • Which loan is better?
  • Which lender has the better loan?

Additional factors:

These calculators could save you thousands of dollars.

  • How can I reduce (PMI) mortgage insurance costs?
  • How much should I put down for a new home?
  • What will my closing costs be?
  • Which is better: 15 or 30-year term?
  • Should I pay points to lower the rate?
  • Which is better: fixed or adjustable?
  • How much will my adjustable rate payments be?
  • How much will my (fixed) mortgage payments be?

Step 5: Loan Pre-Qualification & Pre Approval

  • Pre-qualified – Your borrowing power – BEFORE you begin your home search
  • Pre-qualification estimate with our Affordability Calculator
  • What priced home can you afford?
  • Pre-approval – lender verifies your borrowing power
  • Pending a final contract of purchase, and underwriting verification you can rest assured you’re your final loan is approved.

Step 6: Loan Approval

  • Processing and Underwriting – Expect a time delay in getting final loan
  • Avoid the most common problems with these worksheets:
    • Mortgage Application Checklist 
    • Mortgage Loan Flow Sheet

Fill out the form below to immediately download the full FREE Finance Guide!

Step-by-step home finance guide
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