Home Loans

homeloans2Buying a home for the first time is an emotional process as this is the biggest decision one makes. This home will be the most expensive asset you own and when purchasing a home the decision is made with ‘forever’ in mind.

If you are a first time home buyer, here are some steps you’ll have to follow in order to find your dream home and make it your own:

  1. Lock-In the Best Interest Rate: By locking in the best interest rate you can you don’t risk fluctuations in interest rate. Why risk it when ReFin Financial Services offers you a number of loan options that can be tailor made to your unique financial needs?
  2. Get Pre-Qualified: A Pre-Qualification certificate is the same as having cash in your hand! With this you have the upper hand as you will know what you can afford and thus do your homework on finding the right house. With Pre-Qualification you will be treated seriously and are more likely to get an approval on the offer you put in on a property, as the owner and agent will know that your loan amount has already been pre-approved. ReFin Financial Services will do your pre-qualification in record time.
  3. Pick the Right Loan Option: ReFin Financial Services offers a variety of different options. Remember, this payment will be made over several years so ensure that you choose the correct option that will best suit your financial needs. Our expert consultants will discuss each option with you to ensure you have all the information you need to make an informed decision.
  4. Start Searching for the Perfect Home: Once you’ve locked-in the best interest rate, your pre-qualification certificate and you’ve chosen the correct loan option, you’re ready to start shopping for your dream home. You now have an idea of what you can afford, the next step will be to determine which areas you would like to live in. The easiest would be to find a reputable Real Estate Agent you would like to use and give them all the requirements you have. Once you find the perfect home you’ll put in an offer to purchase, but remember to always put in a lower offer so as to be able to negotiate up.
  5. Obtain a Home Inspection and/or Appraisal Certificate: Once the offer to purchase has been accepted by the seller, get a home inspector to inspect the property. They will ensure that all structural items are sound and that any maintenance issues and special conditions, according to the offer to purchase, are given attention. In this time your loan application will be processed and an appraiser will be sent to the property.
  6. The Closing Process: All documentation will be sent to a Conveyance Attorney. They will draw up a legal contract based on the Offer to Purchase and get all supporting documentation from both parties. Once all documentation is signed and received, and all clearance certificates are received, it is submitted to the local Deeds office. Once the deeds have been registered all funds are paid over to the Attorney, who in turn pays all concerning parties. You are now officially a new home owner!