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Buying your first home can be a bit of a stressful & enjoyable event.

This page will prepare you a bit for your home loan experience and the steps you will be taking during your home buying.

FHA loan credit requirements

Step one:

The first thing that you need to do is to examine your current financial situation and what the estimated purchase price will be on your new home. CLICK TO CALCULATOR By getting a good handle on your new homes monthly payment, you will be properly able to budget your new payment.

After deciding how much you can afford, you need to get a rough idea of what you might use for a down payment. Don’t worry if you don’t have a down payment, the Alliance Lender will help you thru the maze of all first time homebuyers program to find you the best available DP option.

Step two:

Talk to an Alliance Lender and ask them to pre-qualify you for your new home. This step in the process is an important one because this will determine what & how much you will be approved for in your new home search. The Alliance Lender will examine your finances and help you navigate thru the loan process to find you the perfect home loan program to meet your needs!

Click here to speak with an Alliance member

Step Three:

After receiving your loan qualification letter, you need to find a realtor if you do not already have one. Please be sure to interview several agents, so that you may choose one that will best you & represent you in the transaction.

Step Four:

Look at new homes! Your realtor will gladly you show you the available homes that fit your home buying parameters.

Step Five:

Write an offer to purchase ie… contract. Once you decide on the home you want to buy, you will need to write a contract on the home. This contract will outline the purchase price, closing date, and all information regarding the real estate transaction.

Step six:

Start the loan process w/ your Alliance member lender. The Alliance lender will request documentation to help underwrite your file.

Click here to speak with an Alliance member

This info graphic explains the loan process:

FHA loan credit requirements

Step Seven:

Click here to speak with an Alliance member