Buying a home can be stressful at times, both financially and emotionally. The cure for any homebuyer, is a clear understanding of the process. How it works. What happens when. What to expect next. Here are the steps from the selection stage to closing.

Home Selection
You'll know it's right when you see it. And once you've found it, you'll want to make sure the surrounding community is as lovely as the home. Check into the quality of the local medical facilities, the student-teacher ratio in the school system, the access to metropolitan airports, cultural events, parks, places of worship, and any other services important to your quality of life.


Secure Financing
Here are some things you need to know. How much will you put down and how much will you borrow? What is the interest rate? Is it a Fixed or variable rate? How many years will you take to pay it back? As you negotiate these numbers with your Mortgage Company, remember you'll also need enough cash for the down payment and closing costs.

Homeowners Insurance
One of the requirements that will be made by your Mortgage Company is proof of a valid homeowners insurance policy, secured before closing. This policy will protect your investment as well as the lender's. Typically, you are required to pay for a year of the policy at the time of closing; later payments can then be rolled into the cost of your monthly mortgage.

Closing This is the time to verify that the home you're about to buy is exactly what's presented in the contract. The closing usually requires the following documents:

Supplied by the builder or homeowner:
Breakdown of closing and mortgage settlement costs
Original Purchase Agreement
Title or Deed

Supplied by the buyer:
Valid identification
Certified funds for down payment and closing costs
Loan papers
Proof of Homeowners' Insurance

Once you approve and sign the necessary documents, the house legally belongs to you. Congratulations on your new home!!!