Home Buying Made Easy by
Dayyah Realty
PRE-APPROVAL
Apply for a loan and get pre qualified
2. PRE-QUALIFICATION
Get Pre Qualification Letter
Get Good Faith Estimate Document
This will show:
Monthly payment
Monthly Payment includes your payment, taxes, and insurance
Cash you will need to close
TIPS . . .
Your realtor will not have any knowledge of the monthly payment, so it is important to get the Good Faith Estimate Document before you start looking for a home
Income
Monthly Income- Have a steady income and have worked with the same employer for at least two years
Employment- Do not change jobs if you are looking to buy a home because it will affect the loan approval process
Money
Cash- Do not deposit cash or transfer money in your bank account except for your payroll check because it can delay the loan approval process
3. FINDING YOUR HOME
Work with Kausar Hussain and Dahir Ahmed as your Realtor CHANGE NUMBER
Agency Contract - Complete the Agency Relationship and Buyers Representation Documents and send them back to your realtor
Showings - Look at the home listings sent to your email and let the realtor know which homes you would like to see
Ask questions during the showings
If you like the property
Discuss the terms and conditions of the purchase offer with the realtor
Purchase Offer will be prepared by your realtor then will be signed by you
While you are looking for a home gather these document
2 years of Tax Returns
2 years of W2’s for all jobs or 1099 if Self Employed
6 months of bank statements
2 months of current pay stubs for all jobs
Copy of Driver’s License
Copy of Social Security Card
Copy of Valid USA Residency document if it is a Green Card then a copy of the front and back will be needed
Credit Card Number for Appraisal
Verification of Employment
Buyer’s Job Title
Name of the Human Resources Representative
Phone Number of the Human Resources Representative
Email of the Human Resources Representative
TIPS . . .
Send all pages of any documentation even if there are blank pages- example page 4 of your bank statement might be blank, don’t leave that out, send that to the lender too
4. OFFER IS ACCEPTED
Purchase Offer is Signed by Seller
Prepare an Earnest Money Deposit Check and give it to your realtor
Send a copy of your bank statement showing the earnest money check cleared the bank
5. HOME INSPECTION
Home and Radon inspection
Payment
A link will be sent via email to make the payment or you will need to bring a check to the inspection of $490.00 unless told otherwise
Ask the home inspector any questions you may have concerning the condition of the home
Review the home inspection report with your realtor and create a list of major items, noted by the home inspector, that you want request the seller to fix
6. Before Closing
Two Weeks Before Closing Date
If down payment is a gift:
Has to be from family
Has to be a Cashier’s check written to the closing company
Name and Phone Number of the person giving the gift
Contact your insurance company to set up homeowner’s policy to be in effect of day of closing
Request your insurance agent to add Mortgagee Clause and send it to the lender
One Week Before Closing
Connect with lender to ensure that the closing date is on schedule
Get directions to the closing attorney’s office (Your realtor will usually provide this information)
7. CLOSING
Three Days Before Closing
Ask lender for a HUD 1 Settlement Agreement
Verify that repair items in the inspection amendment have been addressed
Day Before Closing
Conduct a walk-through to verify the condition of the house is the same as when placed under contract
Be sure to double-check that inspection items have been addressed
Get certified funds (down payment check) for closing
Review HUD 1 Settlement Agreement to verify that the terms of the contract are correct
Day of Closing
Bring photo ID
Down Payment Check
Gift Check
After signing the document and you will receive the keys to the home and garage door openers.
