How to Buy a Home

Get your Credit in Shape
This can take time, so start as much as a year in advance. Same goes for any co‑borrower on the loan.

Make sure you don't go house-broke
Use a mortgage calculator to see what you can afford—include escrow, maintenance and repairs, and possible PMI or home owners association fees.

Cash up front helps
Secure a better mortgage products, lower your payments & make stronger offers in a competitive market like Austin.

Prioritize Home Features
Identify what is needed, wanted & nice to have. And separate things that are needed today versus potential improvements you would be willing to do in the future.

Learn the Market
Identify locations that deliver what’s important to you. Then adjust your expectations for what size and styles of home your budget can afford in your desired neighborhoods.

Find your Home
In Austin, you need to act quickly. Rely on your list of “needs” to help stay focused and confident about finding the right home for you.

Bidding Process & Making an Offer
Work with your realtor to make a competitive offer and don't be surprised to receive counter offers. Make sure not to stretch your financial limits or give up important protections as you enter the option period.

Offer Acceptance/Option Period
In Texas, you have 10 day option period  after offer acceptance for a qualified home inspector to evaluate the condition of the house. This protects you from buying a home with hidden problems.

This is also the time to contact your lender for final loan approval.

Taking Possession
Once you obtain final loan approval, close your loan, and receive the keys to your new home

Congratulations!
You just bought your first home!