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Buying a home is a major investment. At Fairway Mortgage, our goal is to help you understand the process and feel confident at all times.

Here are the key steps in the process:

I. Do Your Homework Before Searching
Investigate schools and local amenities to decide on neighborhoods that are right for you. Also determine the most important property features.

2. Get Your Finances in Order
Review your credit report – be sure to have enough money for the down payment and closing costs.

3. Don't Wait to Get a Loan
Get pre-qualified or pre-approved for a mortgage before looking at homes. You'll be taken more seriously.

4. Get Help
Consider hiring an agent to act on your behalf. Unlike a listing agent (whose first obligation is to the seller), a buyer's rep works for you. Their fee is often taken out of the seller's commission.

5. House Rich vs. House Poor
Don't overextend yourself. Buying the most expensive home you can afford can make it harder to build up savings and pay for maintenance, repairs and decorating.

6. Make an Offer
With your agent, you'll make a conditional offer detailing terms and conditions. If the seller accepts, it becomes a binding agreement – it's extremely important to carefully review it with your agent and speak up if anything isn't clear. If the seller changes any aspect of the offer. the agreement becomes nonbinding until further agreement. Your contract should be contingent upon an inspection and mortgage. If the inspection reveals a big problem, you can either back out of the sale or you and the seller can renegotiate the purchase price if you are still interested in buying.

7. Move Forward on Your Mortgage
As soon asthe seller agrees to the contract, start the mortgage process by contacting your loan officer. If you're pre-qualified or pre-approved, much of the legwork is already done and your loan will process more quickly.

8. Close the Deal
At closing, you'll sign papers and get keys to your new home. Ownership is now legally transferred from seller to buyer. Closings are typically held at the title company or law firm. The closing officer will coordinate all document signings and collect and disburse funds.

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Fairway Independent Mortgage is a BBB Accredited Mortgage Broker in Clarksville, TN