1. Get an up-to-date credit report.

Sort of like putting your best foot forward, familiarizing yourself with your credit report helps you know exactly where you stand. 

4. Gather common documents needed for a pre-qualification. 

Click here to access the #ADVT2O doc checklist. This checklist can be used as a guideline to gather common things that are needed during the loan process. 

6. Assess your next steps with a lender.

Your "pre-qual" may have come back less than stellar. If so, partner with your lender for next steps. They may suggest you pay off certain debts, catch up on payments etc. If your lender has suggested a debt repayment plan for you; check out our handy debt payment worksheet here. The worksheet will help you track your payment progress, assign priorities and more!

2. Check your credit report for any misinformation. Collections you may have paid. Things you don't recognize, etc.

Only you can make disputes to your credit report. If you see things that don't add up use this guide to help you make disputes.

5. Contact a lender to start a pre-qualification.

The  #ADVT2O program recommends several preferred lenders. Anyone with an #ADVT2O recommendation is great with first time home buyers and those with less than perfect credit. They along with your #ADVT2O agent can help you with your home goals. 

3. Begin to monitor your credit and keep it squeaky clean.

During the home buying process, it's important your credit doesn't make any major changes. Keeping your credit clean means making all payments on time, paying more than the minimum on any revolving accounts, and not applying for any new credit. 

You did it! You completed Month 1 and 2 of #ADVT2O Now on to Month 3 and 4, where you'll get to the fun part of buying a home--finding it!

1. Learn the lingo.

As you move further along in the home buying process, you'll want to familiarize yourself with some of the vocabulary. It's easy to get confused when it seems like everything is an acronym. Check out our Home Buying Glossary here, for quick and easy explanations for some of the head-scratchers. 

4. How much can you afford?

Most financial advisers recommend you spend no more than 30% of your income on housing. Generally, it's a good idea to try and match your possible mortgage payment to what you currently pay in rent. We have a graphic to help you match your rent payment to a mortgage. Check it out here. 

6. Location, location, location.

Picking a place to move to seems like the easiest part of the home ownership process. However, there are many things to consider when choosing your new location. When looking for a neighborhood, use our neighborhood checklist to get you closer to the ideal place. The neighborhood checklist is filled with common needs and wants and will help you identify what you're really looking for. Being clear and consistent with want you want will help both you and your agent when searching for a home. 

2. Managing money. 

Having an accurate idea of your finances can make a huge difference when applying for your loan. A budget can help you feel less frazzled throughout the buying process. When you know what your spending and how you're spending it, you can help you prioritize for major purchases or payments. Making and following a budget doesn't have to be hard,  follow our budgeting guide to get started. 

5. Houses, Condos, Townhomes. Oh My!

Finding available homes can feel like your in a maze. This one says pending. This one says UCB. Another doesn't even have photos of the backyard. Staying organized when looking at listings is the key to not feeling overwhelmed. Your #ADVT2O agent can set up listing alerts for you with homes they've pre-screened that fit your needs. You can also do some searching on your own through our listing search. Through our search, you can even set appointments with your #ADVT2O realtor!

3.  Find a new BFF aka your Realtor. 

While some people choose to forgo using a realtor when purchasing a home, it's best as a First Time Home Buyer to have a helping hand. Your realtor will be there to guide you every step of the way. They'll always keep you in the loop. They'll explain contracts, offers, BINSRs, CLUE reports. etc. Plus, most agents like to stay local, so you know you'll work with someone who has the low down on the area. If you'd like to start looking for your agent now, here is a list of #ADVT2O certified agents who are here to help. 

Another one bites the dust!  You completed Month 2 of #ADVT2O Now on to Month 5 and 6, the HOME stretch! We can't wait to see you turn the key to your new home!

1. You found the perfect home. Now what?

So you found the perfect home, how do you make it yours you ask? By making an offer of course. To complete this step you'll work one-on-one with your agent to come up with a fair offer for the home you want. Your agent will help you make an offer based on competitiveness, budget, and the home's value. Your offer must be accepted by the seller for you to move forward in the home buying process. If your offer isn't accepted, your agent will explain why and help you move forward with another home. 

2. Inspector Gadget

Yay! Your offer was accepted by the seller! Now on to the inspection. The inspection is the time during the sale where a 3rd party inspector will assess any potential problems with the property and advise on any improvements that may be needed. Inspections can make both sellers and buyers anxious but as long as there's an open line of communication the inspection process can be completed without any hiccups. 

You're almost done. Hang in there. Your appraisal is one the last major things you need to finalize your loan and sale process. An appraisal is used to assess the home's value and ensure a fair price is being paid for the home. An appraisal is completed by a licensed appraiser and the fee is usually paid by the buyer. Your appraisal will be delivered in a report style document and both the buyer and seller receive a copy.            

You have now completed #ADVT2O! 6 months of work for a lifetime of wealth!  We knew you could do it. Our last tip: Don't paint the walls green. We tried it--it's not a good look.