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Purchasing your first home can be a very exciting time, but also may be overwhelming for a first-time home buyer as there are many to-dos that you need to accomplish before you sign on the line.  As an independent insurance agency, Davis & Massey Insurance wants to ensure that you have the knowledge you need when you are ready to purchase your very first home.  We spoke with Erica Davis, Sales Manager at Guild Mortgage for the steps a first- time home buyer would need to take prior to closing on their first home and some tips to make the process go smoothly.

Steps to the Home Buying Process

1.      Complete a loan application.

2.      Get pre-qualified for a loan amount.

3.      Provide financial documentation.  (Turn in all requested documentation on time and have a full credit review from underwriting completed.)

4.      Get pre-approved for a specific mortgage amount.

5.      Hire a real estate agent if you don’t already have one.

6.      Find your dream house, put in an offer and sign a sales contract.

7.      Sign your loan disclosures within 24 hours.

8.      Have a home inspection completed.

9.      Have an appraisal completed.

10.   Loan gets approved and you sign the closing disclosure.

11.   Sign your loan documentation and the loan is closed.

12.   Get your keys to your new home…Congratulations, you bought your first home.



·        Start saving early for down payment and budget for closing costs.  Be prepared to account for non-payroll deposits in your bank accounts.

·        Know your credit score.  Don’t apply for any new credit or financing.  Don’t co-sign on any new loans. 

·        Pay off any past due balances.  Continue to make all your payments on time.

·        Make no changes to your name, address, job, or income prior to purchasing.

·        Compare mortgage rates and speak with a qualified lender prior to a preapproval.

·        Purchase home insurance before you close on your property.

·        Use a reputable and knowledgeable home inspection company to inspect the property, prior to closing.

·        Save money for after move-in costs, such as utility down payments, furniture, etc.


You deserve to be happy in your new home, so prepare yourself for all the logistics that come along with being a homeowner.  Following this process and some of these tips will help prepare you and give you confidence when buying your first home.  Huge thank you to Erica Davis at Guild Mortgage for providing us with these helpful tips.  If you have any questions regarding obtaining homeowner’s insurance, please feel free to call us at (843) 839-9229.  At Davis & Massey Insurance we provide you peace of mind at a price that’s right for you.

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