What to Know When Buying a Home

A Helping Hand in the Home Purchase Process

Whether you are considering purchasing your first home or have been a homeowner in the past, the process may seem intimidating at first. There are several parties involved in purchasing a home, who you will work closely with to find the right home at the right price. At Boise River Lending, we not only help our clients with home financing, but also provide guidance through the entire purchasing process. If you are considering purchasing a home in Boise, Meridian, Twin Falls, or surrounding Treasure Valley or Magic Valley communities, contact us first. We are happy to answer any of your questions or schedule a consultation to get started.

First: Evaluate Your Finances

When you first decide that you want to purchase a home, you will need to take a careful evaluation of your finances and financial history. For many clients, it is necessary to have a down payment saved up of up to 20% of their expected loan value, although some clients can secure government-backed loans that may not require it. The Boise River Lending professionals can help you during this evaluation process.

Second: Determine Where You Would Like to Live and in What Type of Home

In addition to evaluating your finances, you should start thinking about what neighborhoods you would like to live in and what type of home you want to purchase. This will be important as you begin the process of getting approval for a loan. This is also a good time to start looking at the value of homes in the areas you are considering.

Pre-Approval for a Loan and Connecting with a Realtor

Once you have evaluated your finances and discussed them with our certified mortgage professionals, we can provide you with a comparison of different loans best-suited for your goals. These may include conventional and nonconventional loans with a broad spectrum of down payments, interest rates and terms. Once we determine what financing is right for you, we can complete a prequalification/preapproval process. Your Realtor will use this in selecting homes that you can afford.

Choosing a Home and Putting Down an Offer

Once you have selected a home you love, you may need to have it appraised. After this appraisal, your Realtor will coordinate with us to start the paperwork to make an offer. If the home seller accepts your offer, then you may begin closing paperwork. If it is not accepted, you can consider making a counter-offer.

Closing on Your Home

Once a buyer has accepted your offer, we have the green light to complete the paperwork to pay for your home. Once the seller receives our payment, you can move in!

We Truly Care About Putting Clients in Homes They Love

When it comes down to it, one of the greatest gifts you can have while you are looking to purchase a home is a helping hand. At Boise River Lending, our caring mortgage professionals are happy to answer your questions, free of charge. When you decide you are ready to purchase a home, we will be there with you at every step of the home purchase process to guide you. If you live in Boise, Meridian, Twin Falls, or nearby Treasure Valley or Magic Valley neighborhoods, contact us to get started today.