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The Home Buying Process The more you know about the home buying process, the more confident you'll feel about making these important decisions that will shape your future. - Play with the numbers
Decide how much you are able to afford on your new home. Keep in mind up-front expenses such as closing costs when you are calculating what you can spend. Use the online calculators at www.advancial.org to determine how much house you can afford. - Decide on a loan
Advancial offers many different financing choices, so there’s sure to be one to fit every member. Research the loan options and terms that are available to determine which is best for you. - Get pre-qualified or pre-approved
Pre-qualification allows you to estimate the loan amount that you can be approved for based on the information that you submit. This can serve as a guide for you when you begin the home buying process. You can go online to www.advancial.org and get pre-qualified for no cost. Many sellers prefer or require that you are pre-approved for a loan. Pre-approval is actually filling out a loan application, including all your salary and credit information. Pre-approval show sellers that you are serious about your house search and gives you an advantage when competing with other bidders. - Find a home
Now it’s time to locate your dream home. Be sure to take into account the neighborhood, the school district, tax rates and any other aspects that are important to you. You may want to work with a real estate agent to help you in your search. Advancial offers our members a list of qualified real estate agents. - Make an offer
Once you’ve found your dream home, it is time to make an offer to purchase. An offer should include the price your willing to pay, when you’d like to move in and the kind of inspections you expect. Your offer is accompanied by your earnest money, which is a deposit given to the seller to show that you are serious about purchasing the home. - Closing
On final approval of your loan, Advancial will prepare the final documents for you to sign and send them to an escrow company for signing. Escrow is the money that is held by a neutral third party which you will use to pay for taxes and insurance. Once we receive the signed documents, the loan is disbursed and the home-buying process is complete!
Learn more about the mortgage process by speaking one-on-one with an Advancial mortgage specialist.  
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