How to Buy a House
Or, the Process my Husband I Have Gone Through While Buying Our House
A few months ago, my husband and I decided we’d had enough. We’d been renting houses and apartments for a very long time because of mistakes we’d both made with our credit in our earlier years. But in the past few years, we’d started to clean up our act — a lot of the negative credit we had dropped off our credit report anyway, and our scores had improved dramatically. Plus, there isn’t a lot of demand for the type of work my husband does in the area we live in. It was time for us to move to a better area, and actually buy a house instead of continuing to rent.
My husband and I found a house we liked, and he put in his contact information. A little while later, the realtor contacted him and got some information from him. She put him in contact with a mortgage company who started the application process with us. That was two months ago, and the journey to home ownership has been a very interesting one. It’s gone something like this:
- Kevin put his contact information.
- The realtor contacted him and gave him information for the mortgage company they use.
- He started the mortgage application process — they needed a lot of information from us — our social security numbers, paycheck stubs, W-2s, tax returns for the past two years, and bank statements from each of us.
- In the meantime, the house we were originally interested in sold, so we started looking at different houses, and found the one pictured above.
- We put in an offer on the house, which was accepted.
- We sent money to the lawyer who would be handling the closing, as well as to the real estate agency so they would pull the listing.
- Someone from the mortgage company sent us a bunch of paperwork to fill out, sign and send back — luckily this could all be done electronically.
- We filled out the paperwork and sent it back.
- We got an email from the loan officer telling us that our loan had been sent to underwriting — my husband responded to this email and asked him how long the process took, and he said it usually only took three days to get the initial approval.
- We got another email from the loan officer saying that underwriter had reviewed the application and that the mortgage company was now reviewing the application and supporting documentation.
That’s where we are right now — we should have final numbers soon. In the meantime, we’ve been looking at appliances and other essentials we’ll need for the house, and Kevin also got a quote from our insurance agency on homeowners’ insurance. We hope to close in June — we have to be out of our apartment in July. Please stay tuned to Medium for updates.