I want to buy a house… where do I start?!

You learn a lot of things in grade school. The mitochondria is the powerhouse of the cell. A rhombus is a quadrilateral with four sides, two obtuse angles and two oblique angles. Simple enough! While we’re able to recite a line of Shakespeare, many of us leave middle school, high school and even college without an idea of where to start the homebuying process.

What’s even worse is that, without guidance, many people jump into the process uninformed. They overextend themselves financially, become a victim of predatory lending, choose a home that doesn’t fit the long-term needs of their family, or settle on a home just because they feel like buying a home is the “right” thing to do.

So, how should you start the process? First, start with resources like those found on THDA’s website. THDA provides you with information about down payment assistance, loan options and homebuyer education course information. By reviewing these materials, you could learn about available resources that make homeownership possible or more attainable for your family.

Once you’ve learned about your options, enroll in a homebuyer education course, like those offered by United Housing. In these classes, you’ll learn about more than just the homebuying process. You’ll learn how to budget for a mortgage while building up your savings, how to improve your credit score, why homeownership matters, how to maintain your home, and so much more. Plus, you’ll learn from a well-educated teacher who can answer any of your questions (we know you have a ton!).

From there, you’ll be ready to meet with reputable community lenders and shop for mortgages. Your HBE teacher may even connect you with a few trustworthy agencies. You’ll need to review a few mortgages before deciding which lender is right for you, as the amount for which you are approved and interest rates will likely vary. This will give you a clear price range, which is essential before you start looking at homes.

Now, here comes the fun part! You’ve chosen a lender and have a clear budget, it’s time to connect with a licensed realtor. Your HBE instructor will likely have a few recommendations. Talk with your real estate agent about what you need and want (there is a difference!) in a home, what neighborhoods you want to consider and set clear boundaries on your budget. Then, let the tours begin!

Hopefully, by the end of this process, you’ll be able to look back on this from the comfort of your new living room! But, to get started, you need to connect with organizations like THDA and United Housing, who will provide you with in-depth information and guide you through the process. Connect with us through the links above today!