This document provides information about buying a home, including why 2012 is a good time to buy due to low prices and interest rates. It outlines the steps to purchasing a home, including getting pre-approved for a mortgage, finding an agent, making an offer, completing inspections and appraisals, and closing. Requirements for obtaining a mortgage like income documentation are also listed. The importance of home insurance is emphasized by the analogy that just like cars require insurance, homes should be insured as well. The document encourages readers to ask any questions and states the presenters look forward to providing future assistance.

1. Brought to you by:
Michael Maynard Michael Cross Dana Gregorio
New Neighbors Realty Tri State Mortgage Bearingstar Ins
(203) 464-1168 (203) 284-8022 (203) 815-6729

2.  Why Buy in 2012?
 Steps to Purchasing a Home
 How Do I Get a Mortgage?
 Do I Need Insurance?
 Your Turn!

3.  Low prices on homes due to poor job market
and economy
 Rents are more expensive than ever before
 Mortgage rates at all time lows!
 Mortgage interest is a tax write off
 Always a plus to see your money go towards
you owning it, as opposed to throwing it away
on rent

4. 1. Mortgage pre approval
Meet with your loan officer to decide what
your options are. Make sure to have a monthly
mortgage payment you are comfortable making.
This helps you see how much you can afford!
2. Find an Agent to help you search for a home
Are you looking for a starter home or
something to raise a family in? Big house or big
yard? Maybe both? These are some questions you
may be asked, so start thinking about what would
be right for you.

5. 3. Make an Offer!
Sit down with your agent and talk about
comparable homes in the area to see where you
should start the bidding.
4. Offer Accepted!
5. Home Inspection
A home inspection is not required, but
strongly recommended. It is worth a few
hundred dollars to see what you are exactly
purchasing.

6. 6. Mortgage Documents
Meet with your loan officer to start the mortgage
process. Take your pre-qualification to a final approval!
7. Appraisal
Mortgage companies require an appraisal to be
performed to find a value of the home.
8. Get Home Insurance!
Your Mortgage Officer will ask you for an
insurance binder. Check to see if you are in a Flood or
Hurricane Zone
9. Close and Move In!

7. Meet with a loan officer and discuss your
options. Your Income Ratio (Debt/Income) will
help decide your highest available payment.
You will Need the following documents when
meeting with your loan officer:
Last 2 Paystubs
Last 2 years W2’s
Bank Statement
Photo Id

8.  You don’t drive your car without insurance, so
why wouldn’t you insure your home!
 There are a variety of different insurances from
regular home policies, to flood, to covering
your personal things in a condo or apartment

9.  What Questions or Concerns Do
You Have For Us?

10.  We Look Forward To Helping You
In The Future!