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BUY A HOME

WE’LL GET THE DOOR FOR YOU.

You’re ready to be a homeowner. We can make it happen.

WE’LL GET THE DOOR FOR YOU.

You’re ready to be a homeowner.
We can make it happen.

We know the home buying process can often seem overwhelming, but with Essential Mortgage on your side, it doesn’t have to.

We’re here to make home buying easy, and we’ll guide you through the mortgage process every step of the way.

Want to know what that process looks like? We’ve outlined the steps to buying a house below. Have more questions? Ready to get started? Essential Mortgage is here to help.

Step 1: Set the stage

The first step to buying a home in Louisiana is to set out your goals. Determine why you’re buying a house, what you’re looking for in a property and the general location or neighborhood of your home.

You should also:

  • Use a mortgage payment calculator to determine what you can afford each month.
  • Start researching Louisiana mortgage companies, real estate agents and other vendors you’d like to use.
  • Set a timeline for your purchase.

The first step to buying a home in Louisiana is to set out your goals. Determine why you’re buying a house, what you’re looking for in a property and the general location or neighborhood of your home.

You should also:

  • Use a mortgage payment calculator to determine what you can afford each month.
  • Start researching Louisiana mortgage companies, real estate agents and other vendors you’d like to use.
  • Set a timeline for your purchase.

 

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Step 2: Learn your mortgage fundamentals.

Unless you’re buying a house in all cash, you’ll want a good grasp on mortgages before applying for your loan.

Specifically, you’ll want to understand:

  • Mortgage interest rates – This determines the amount of interest you’ll pay to take out your loan, both on a monthly basis and over the life of the mortgage. Mortgage rates depend on your credit, the current market, your chosen Louisiana mortgage lender and several other factors.
  • Adjustable- vs. fixed-rate loans – Adjustable-rate loans have an interest rate that may fluctuate over time, while fixed-rate loans offer more consistent rates and payments. Both have their own pros and cons, so be sure to ask your mortgage company about which one is best for your financial scenario
  • Discount points – Paying discount points up front can help you lower your interest rate and the interest paid over time.
  • Loan terms – This is the length of time your loan can be repaid over. Shorter-term loans generally come with lower interest rates.

Step 3: Get organized — and then get prequalified.

The next step in the process of buying a house is to get your financial documentation in order. You’ll need it to apply for your mortgage loan and having it ready and organized can ensure the process goes quickly and efficiently.

You’ll then want to use those documents to apply for prequalification with your chosen Louisiana lending company. Getting prequalified will help you better understand the budget and price range you’re working with, as well as help you stand out from other buyers.

Step 4: Find your Louisiana dream house.

After you’ve gotten prequalified for your mortgage loan, the next step is to find that dream house. Connect with a Louisiana real estate agent and begin touring homes in your area. This will make it easier to compare and contrast your options later on.

Once you’ve found that perfect property, work with your agent to make a right-sized offer. This may require some back-and-forth negotiation, but once the seller accepts, you’re ready to take the next step toward buying that house.

Step 5: Provide your mortgage lender with your financial documents.

After the seller accepts your offer, your agent will execute your sales contract, which they’ll then send to the mortgage company you’ve chosen to use. Your lending company will then begin processing your loan.

This will require much of the paperwork you gathered in Step 3, so be sure to have it on hand and ready. You’ll need to hand it over to your loan processor, as well as provide any additional documentation they might require. Be sure to respond quickly to these requests, as it will help keep your loan closing on track and on time.

Step 6: Close your loan and move into the home.

Finally, you’ll attend your closing appointment, sign all the necessary paperwork, and the home will be yours. You’ll be free to move in as soon as the funds are transferred.

Peace of Mind Today, Tomorrow and Beyond

Unlike other mortgage companies, Essential Mortgage is committed to being your lender for life. We won’t transfer your loan or hand you over to someone you’ve never met. Though your loan may be closed, and you’ve long settled in the home, you’ll always enjoy peace of mind that your Essential Mortgage team is here, ready and waiting should you ever need anything.

Are you ready to get prequalified for your mortgage loan and start searching for that Louisiana dream home? Then contact an Essential Mortgage team member today. We’re one of Louisiana’s best mortgage lenders, and we’d love the chance to prove it to you.