Step 1: Mortgage Application

Step 2: Choose the Right Mortgage Program

Step 3: Mortgage Submission and Approval

Step 4: Lawyer

The advantages of homeownership can be summed up in two interests, financial reward and emotional reward. Typically the benefits are more realistic in the long term since real estate transactions are expensive and moving is not fun.

The financial benefits are (1) paying down your mortgage and building equity, (2) real estate prices will always go higher in the long run, hence protecting you from inflation and also building equity and (3) building credit history.

The emotional benefits are significant, especially for families. You have the freedom to renovate and customize your home to your liking. The pride of homeownership is fulfilling. 

It is beneficial to consult specialists and professionals for an essential decision as buying a home. You should consider consulting your accountant and financial planner, if you have one, your mortgage lender or bank institution, to understand the mortgage terms fully. Finally, you should consult with your trusted real estate agent.

Summary:
(1) Consult with your accountant and financial planner. 
(2) Consult with your mortgage lender or banking institution. 
​(3) Consult with your real estate agent.