Home Buying Process

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

Step 1: Pre-Qualify

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 2: Get Pre-Approved

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 process.

Our expert Account Executives will help you prepare for your home financing journey by assisting you with the pre-qualification and pre-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 pre-approval letter, you will have an advantage over other home shoppers in the home buying market.

The home financing process can seem daunting but it doesn't have to be. During the pre-approval process, a licensed Account Executive will work with you to collect all the necessary information so that you have a more predictable view of your budget. An early review can also help you address any issues that may be discovered so that you can take corrective action. It is highly recommended that you get pre-approved before you begin shopping for a house. Most real estate agents and nearly all sellers will not take you seriously unless you're pre-approved. This crucial step helps you and your agent to understand your purchasing power so that they won't lead you down the wrong path by showing you homes outside your budget.

Step 3: Connect with an agent

Once pre-approved, it's time to find a knowledgeable and reliable real estate agent so here's some background and suggestions for connecting with the right agent.

Real estate agents are licensed professionals who can make the purchase of your home a more rewarding experience. Agents have access to detailed information regarding properties that are listed for sale on the Multiple Listing Service database or MLS. Although you have similar access through different websites (Zillow, etc.), some of that data may not be 100% reliable. A seasoned real estate agent can also provide insights into a property and its potential problems much earlier in the process thus helping you avoid costly mistakes.

If you don't have a real estate agent, Guidance Residential can help. We refer our clients to our sister company, Guidance Home Services. They partner with some of the best agents in the states we operate in. These agents have been pre-screened to ensure that you receive outstanding service and expert advice. Working with these real estate agents to purchase a home will not cost you anything. Real estate agents who represent buyers are compensated by the seller. Sellers pay their listing agents who then share half of that commission with a buyer's agent.

Step 4: Shop

Once connected with a licensed real estate agent, it's time to filter through all those listings, go on showings and submit an offer on your favorite home.

Work with your local real estate professional to schedule appointments to go and see listings that fit your budget and meet your expectations.

Once you've weighed all the pros and cons, and you've identified the home that checks most if not all your boxes, you're ready to submit an offer. Your real estate agent will reach out to the seller and submit an offer and then negotiate a fair price on your behalf.

Step 5: 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 real estate 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.