Home Buying Process

Discover the six steps in the home buying process. Guidance Residential will guide you through each step to help you complete your homebuyer's journey.

Step 1: Plan

Research and map out a budget in stage one of the homebuyer's journey.

You may have some plans about where you want to live. You may want to search and narrow down specific areas and learn about house pricing around those neighborhoods. Use our home search engine to learn more about your preferred community.

  • Once you have some idea about the range of home pricing, the next step is to find out how much you can afford based on your income and expense situation. You can estimate your price range and approximate monthly payment by using our affordability calculator.
  • You can get a more accurate estimate of your affordability if you do our online Pre-Qualification or get connected to a licensed Account Executive who can assist you with finding out the best estimates.

Evaluate different home types based on your home buying and family needs. At Guidance Residential, we offer financing for Single Family Homes, Townhomes, Condominiums, Planned Unit Developments (PUDs), and Multi-units (up to 4 units). Click here to see the variety of financing options we offer.

Step 2: Act

Complete online Pre-Qualification in less than 10 minutes with no credit check required.

When the time comes to apply for financing, we'll complete a credit check to obtain your score. Some things that you can do to improve your credit score are:

  • Keep credit card balances low
  • Pay bills on time
  • Don't cancel unused credit cards
  • Don't take on any new debt

Complete our online Pre-Qualification form or connect with a licensed Account Executive who can assist you in finding the best home financing estimates.

When you complete the online Pre-Qualification, you will get an estimate of your monthly payment based on the information you provide. Start the online Pre-Qualification now. It takes less than 10 minutes to complete and there is no credit check for the process.

Step 3: Connect

Connect with a licensed Account Executive to guide you through the home financing process.

After you complete Guidance's online Pre-Qualification form, you will be assigned a licensed Account Executive who will verify the information you provided and assist you with the pre-approval and conditional approval process.

Our expert Account Executives will help you prepare for your home financing journey by assisting you with the pre-approval and conditional approval process. A licensed Account Executive will conduct a credit check and verify all information you provide to approve you for a specific financing amount. Once you receive a conditional pre-approval letter, you will have an advantage over other home shoppers in the home buying market.

Step 4: Shop

Search and find your dream home with the help of a reliable real estate agent.

Real estate agents are professionals that have expert information about the home buying process and real estate in their licensed areas. GuidanceRealty.com, our real estate partner program, was created to offer customers a simple, cost-effective and consumer-friendly solution to purchase a home. It connects real estate agents with customers who Pre-Qualify online through Guidance Residential and also serves as a search engine for prospective buyers who access the site to search for agents. The program saves customers money when they decide to finance with Guidance Residential and work with an partner agent.

Search for your home using the search function on GuidanceRealty.com. The platform makes it easy for you to search for different property types based on your criteria for the community and neighborhood - such as school rankings, proximity to mosques, places of worship and dining options. You can also schedule showings with a partner agent and received tailored monthly home estimates. Narrow down your list by keeping a list of saved searches on GuidanceRealty.com.

A GuidanceRealty.com agent will serve as a local expert with knowledge of comparable homes in your desired home area to help you make an informed offer. Agents will be prepared to guide you through negotiations and get you the best deal possible. Your agent will also be familiar with the home financing process which will begin once your offer is accepted.

Step 5: Apply

Connect with a licensed Guidance Account Executive to apply for financing and provide necessary documentations.

Once you Pre-Qualify with Guidance, your licensed Account Executive will follow up with you periodically to see if your purchase offer has been accepted. You can also contact your Account Executive if your offer is accepted prior to hearing from your Account Executive. In either situation, your Account Executive will begin the finance application process for you once your offer is accepted. This typically takes 10 minutes over the phone. During the finance application process, you will need to provide a number of documents and signed paperwork before you can be approved for financing. This process takes an average of 30 to 45 days, but can be reduced (dependent upon third party vendors' timeliness, your credit profile and responsiveness).

Once you apply for financing with Guidance Residential, you will receive a letter about what to expect. The application process can be completed in 5 steps in which we contact you, confirm your information, confirm your home's value, request your signature on important documents, and finally approve your financing amount. Avoid delays by having the following files ready to provide upon request:

  • I-9 Documents (or documents that contain a photo ID)
  • Income Documents
  • Asset/Bank Statements
  • Disclosure Documents - these will be provided to you by Guidance Residential for you to sign and return
  • Other Documents - such as a purchase agreement, an active home insurance policy, and taxes, insurance and HOA dues for other real estate owned

Track your application process closely to stay updated on your status. Should more information or additional documents be required, you will want to handle it quickly to avoid potential delays. The giOS App for Homeowners will allow you to track updates on your status in the application process.

Step 6: Close

Get inspections done, sign contracts, get the key and celebrate the closing on your new home!

Hire a licensed home inspector to complete an inspection of your home. Depending on your home, you may opt to have other inspections completed - such as a pest inspection, chimney inspection, electrical inspection, and a heating and air conditioning inspection. Consult with your expert GuidanceRealty.com participating agent to determine what's best for you and to determine a timeline for what needs to be completed prior to closing.

Your Account Executive will make sure that you are provided with a closing cost estimate, which is the amount you will need to bring to the closing in the form of a cashier's check or wire transfer. Avoid making large purchases and taking on new debt - such as furniture, home appliances or vehicle - so that you do not delay or stop the closing process.

It's the big day! The closing itself and signing of paperwork typically takes 1-2 hours. Then, enjoy your new home and find comfort in knowing that you became a homeowner without compromising your faith.