I want to buy a home. How would I go about getting a home loan?

I’m looking at a house and I’m seriously look to buy it, but I would need a home loan in order to move forward. How would I go about getting a home loan?

By | 2013-08-27T03:21:05+00:00 August 27th, 2013|Mortgages Home Loans Interest Rate|5 Comments

About the Author:

5 Comments

  1. Rick August 27, 2013 at 5:34 AM - Reply

    Your best bet will be with the LISTING AGENT for the house that you like..Why? because this will 95% guarantee that you will win that offer to purchase the house. As bad as the real estate environment is, this will get you not only a home loan, but a better chance of getting the offer accepted.

    You do want a house, right? Well getting a loan, would not be too hard, getting the offer accepted is..

    Take from me, your best bet will be with the Listing agent, she/he will greatly take care of you to get you to purchase a home.

  2. Joe Sheehan August 27, 2013 at 5:25 AM - Reply

    You could apply on line at any number of lenders, but it is so difficult to determine who you can trust. I would do the following steps to determine which lender I should use for a home loan.
    1. Ask my friends and family who they have used in the past.
    2. Ask my Realtor or a Realtor your friends and family has used in the past
    3. Interview the lender and see who seems most interested in your best interest.
    4. Ask each lender to provide you a list of all the federal and state government options they offer to their clients.
    Finally, you make the choice. If you have all these answers, it is your choice and preference.

  3. Tokyo101 August 27, 2013 at 5:10 AM - Reply

    The amount the bank will loan you depends on a number of factors, such as your income and your credit score.
    Get a loan in 12 Easy steps.

    1- Find a lender. Ask friends, family or co-workers for referrals; speak with local real estate agents; search the Internet.

    2-Fill out a loan application.

    3-Get an estimate of closing costs from the lender you choose. By law, the lender is required to provide this statement to you within three days of receiving the loan application. Make sure to ask what type of loan program your lender has selected for you, including the rates, terms and any special information, such as prepayment penalties.

    4-Compare costs, fees and terms of loans if you are working with more than one lender.

    5-Negotiate fees. Sometimes you can negotiate the amount of fees or loan points (a point is 1 percent of the loan amount) the lender charges you.

    6-Consider lowering your interest rate by paying more points. The relationship of interest rate to points paid is an inverse one; the more points you pay, the lower the interest rate.

    7-Provide required documentation.

    8-Pay any up-front fees. Sometimes the lender requires that the appraisal, credit report or processing fee be paid at the beginning.

    9-Review loan papers. Approximately one week prior to closing, loan papers will be ready for your review. Make sure the loan matches the original quote you were given.

    10-Sign your loan papers and deposit your down payment funds into your account four to six days prior to closing.

    11-Bring a cashier’s check for the down payment to the title company, escrow company or attorney handling the closing. The lender will send the title company a check for the loan amount.

    12-Get ready to congratulate yourself. Once the transaction closes and you have signed off on all contingencies, and received a copy of the deed and a set of keys, you own the home.

    Hope this was of help!

    Read more: How to Get a Home Loan | eHow.com http://www.ehow.com/how_8126_home-loan.html#ixzz1GbIvlL3N

  4. Steve D August 27, 2013 at 4:19 AM - Reply

    Go to a bank or mortgage broker and fill out an application for a mortgage. The broker or bank will provide you a pre-approval (assuming you qualify) within a day or two which will let you know the maximum amount you can borrow. Based on this information, you can make an offer on the house.

  5. wizjp August 27, 2013 at 4:05 AM - Reply

    Start with a long talk with your realtor and bank manager

Leave A Comment