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Home Purchase Basics

Congratulations on your decision to buy a new home! There are many important things to consider throughout the process, especially if you're a first-time homebuyer. Here's some information that will keep you on track.

A home purchase may be your largest financial transaction to date, so it's important to make the right decisions and to keep an eye on the details. With the assistance of your real estate agent and loan officer, it should be an efficient, pleasant, and ultimately rewarding experience.

Start by getting pre-approved and selecting a Real Estate Agent

Make sure you are pre-approved as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.

How Real Estate Agents Help

We recommend selecting a professional who knows your market and will listen to your needs. Real estate agents will:

  • Preview available homes to weed out those that are overpriced or undesirable in some other way.
  • Present homes that suit your needs as you've defined them.
  • Help you determine the difference between a "good buy" and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.
  • Negotiate the best deal for you. With a pre-approval letter from us in hand, your real estate agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the seller, and may make the difference between the seller accepting your offer or someone else's - even if your offer is lower!

What your Bank Forward lender will do

Our experienced staff offers expertise in every area of mortgage lending from purchase, refinance or construction lending to home equity loans and lines of credit. We will:

  • Assist you in selecting the best loan to meet your personal situation and goals. (This single decision can save you thousands of dollars throughout the years!)
  • Keep you informed of your loan status with updates and progress reports throughout the entire process.
  • Keep your real estate agent informed of our loan progress (your personal information is always kept confidential between you and us; only deal points and progress are shared).
  • Get the appropriate loan for you at the best rates and fees. This will save you significant money up front and through years to come.

What you can do

Keep your real estate agent and lender informed of any questions or concerns as they develop.

Keep the process moving by providing documentation and decisions as soon as reasonably possible. By doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention.

Enjoy purchasing your home, but remain objective to make decisions that are best for you.

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