I know that purchasing a home can be a daunting process. Without guidance, many people wouldn’t know the first place to start. If you are curious about the home buying process, I hope you find this helpful.

The first step of the home buying process is doing what I like to call a financial check-up. You may want to take a look at your current credit score and make sure your report looks accurate (i.e. no suspicious activity that could have been done by someone else). It may also be helpful to add up your total monthly and annual expenses as well as retrieve your W-2s from the last 2 years or whichever type of tax document you receive based on your employment. In order to go through the prequalification process, your lender is likely going to need all this information, so it is helpful to already have it prepared.

It may also be helpful to take a look at your savings on hand. You should keep in mind that there are other costs and fees associated with conducting a real estate transaction, and also consider how big of a down payment you would be able to make. 

Why is this first step so important? Purchasing a home is oftentimes the biggest investment people will make in their lifetimes. Thus, it is important to ensure you are financially well-prepared for the process and choose good representation to help you along the way before, during and after the home buying journey. 

Have any questions about the home buying process? Feel free to reach out to me at 806-632-6463 or via email at blair.txrealtor@gmail.com.

Visit irs.gov to create and access your online account and retrieve your W-2s.


Written by: Blair Hayes, REALTOR®