How do you buy a house?

Question

I’m not sure if this is the right group but me and my SO recently had a baby and are thinking about the future. We want to buy a house but have no idea how to go about it. Any advice would be soo much appreciated. Thank you!

Answer

Our steps are slightly different because my husband is a veteran so we went through USAA and didn't have to make a downpayment, but this is what we did.
1. We worked on raising our credit to a very good score
2. We called USAA to see how much we qualified for a loan (once you decide where you would like to get your home loan from. Or maybe call multiple places to get a quote. The amount will vary based off of your credit and current income). 
3. We viewed the house we wanted. I had been looking for a bit and fell in love with this one. We got lucky with the first being the one we wanted.
4. Once you find a home you want you ask to make an offer on the home. If you have time to waste you can offer a lower price and see if they're willing to haggle. We offered the full price because it was new on the market, near a really good school, and in a high demand area. And because my husband started is new job soon so we needed one sooner than later. 
5. Once the price is accepted you will need to get the home inspected by an appraiser and we also had to have it checked for termites. This took 3 or 4 weeks. 
6. Once that's done the appraiser will have a list of things that need to be fixed (if there are any) and you can reduce the price to compensate if the seller doesn't want to do it themselves before you buy it. 
7. Once that's all settled the loan needs to accept it all and then complete their side
8. Now you get to close on the house! Yay! There's a lot of paper work but it's almost done
9. Papers are signed and you are handed your keys. Yay! You own a home!

Answer

Go to AnnualCreditReport.com and check your credit and credit score first.

Answer

So first look into a realtor as they can help guide you. Youll need a down payment, but also consider closing costs, inspections, and forms. For your monthly payment, if you pay escrow, it will make your payment higher but it pays house insurance and taxes for the year. Any more questions, message me. :)

How do you buy a house?

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