Use this guide to prepare for the major stages of buying a home: setting a budget, arranging financing, touring properties, making an offer, completing inspections and appraisal, and closing. A local agent and lender can explain how each step applies to your situation.
One of the first steps in buying a house is understanding your finances. A down payment and other requirements vary by loan program, eligibility, property, and lender. Lenders also review credit and other financial information when determining available loan options and terms. A lender can explain the programs and costs that may apply to you.
Once you understand your budget and have an agent, you can browse active real estate listings and ask your agent to arrange tours of the properties you want to see in person.
Once you find a property you want to pursue, your agent can help you prepare a written offer and explain proposed terms, contingencies, and any deposit that may be part of the transaction.
A home inspection is where you hire a home inspector to check out the house from top to bottom to determine if there are any problems with it that might make you think twice about moving forward. Your agent can help you choose which inspections most benefit you. Additionally, Even if you got pre-approved for your home loan, your lender will want to conduct a home appraisal. This is where the lender checks out the house to make sure it's a good investment.
Closing is when you officially get the keys to your new home and pay all the various parties involved. That will include your down payment for your loan, plus closing costs, the extra fees you pay to process your loan.
Use official sources for current Pennsylvania real estate information, then speak with an agent, lender, inspector, attorney, or other professional about your situation as appropriate.
This guide provides general information and is not legal, tax, lending, or financial advice.
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