I'm looking to move in to a home by november 2014 the earliest. I just got pre approved for a FHA 30 year fixed mortgage loan, and I will start looking at homes this week.
I know I'll talk to my realtor and loan officer about this, but sometimes its easier to get overview/opinions from others.
I am looking for a detailed timeline and and maybe some average pricing.
How long does the process take?
How does closing work?
How does an appraisal work?
What surprises can I expect?
Etc.
Some more background info:
We are first time home buyers.
We plan on looking at home is the Buffalo, NY area at $40,000-60,000.
I am aware that is a large gap but I want to exhaust all my options, and will be starting to look at the lower priced homes first.
We are willing to put as much as 20% down payment (we're allowed to give down to 3.5%).
I know this is a long question already, but if any one knows of any good banks or companies I can use to compare rates that would be great.
I also have no signed any agreements with any realtor.
Read more: Everything to know about buying a home?!
