YOUR Raleigh DREAM HOME.
You’re ready to buy that dream home — and we’re here to help.
You’re ready to buy that dream home — and we’re here to help.
You’re ready to buy that dream home — and we’re here to help.
Whether you’re a first-time home buyer or a seasoned veteran, the mortgage process can seem confusing and overwhelming. Here at Perennial Mortgage Group of Raleigh, we make sure it’s not.
Our goal is to make buying a house easy, simple and enjoyable — and the Perennial Mortgage Group of Raleigh team ensures that every step of the way.
Want to know what you’re in for? Ready to get the home buying process? Perennial Mortgage Group of Raleigh has you covered with this step-by-step guide.
Before you can commence buying that Raleigh dream home, you first need to get with your family members and establish your home buying plan. That means setting your goals, narrowing down your search criteria, and understanding your budget. You’ll also need to set a timeline or when you want to buy the house and outline how you’ll cover the up-front costs, like your down payment, closing costs and moving expenses.
Finally, you should take time to vet potential home buying vendors, too. Research mortgage lenders who serve Raleigh, as well as real estate agents, home inspectors and other pros you’ll need along the way.
Before you can commence buying that Raleigh dream home, you first need to get with your family members and establish your home buying plan. That means setting your goals, narrowing down your search criteria, and understanding your budget. You’ll also need to set a timeline or when you want to buy the house and outline how you’ll cover the up-front costs, like your down payment, closing costs and moving expenses.
Finally, you should take time to vet potential home buying vendors, too. Research mortgage lenders who serve Raleigh, as well as real estate agents, home inspectors and other pros you’ll need along the way.
Mortgage loans come in all shapes and sizes, so it’s important to understand your options, as well as what will work with your budget, home buying goals and long-term financial scenario.
Here are some mortgage decisions you’ll need to make:
You should also pull your credit report and gauge how it might impact your mortgage options. Though a lower credit score and poor credit history can often mean higher interest rates, they don’t preclude you from getting a loan. If you have less-than-ideal credit, talk to a Raleigh loan officer about what mortgage options you have, and consider working on boosting your score before applying for your loan.
The next step toward buying a home requires gathering some important financial and job-related documentation (check out our loan checklist to see exactly what items.) Once you have these in order, get in touch with a North Carolina mortgage company and start the prequalification process. This usually requires basic information about your income, credit and the type of house you’re looking to buy.
If you meet the lender’s minimum requirements, you’ll get a prequalification letter detailing how much of a loan you’ll likely qualify for. You can use this to guide your home search and as a way to stand out from other buyers currently on the Raleigh market.
As soon as you have the prequalification in hand, you can start the home search. Contact your chosen Raleigh real estate agent, give them your budget and criteria, and start shopping and touring homes. Be sure to bring our Homebuyer Checklist along to stay on track.
When you’ve found “the one,” work with your agent to put an offer on the property and negotiate a deal. Once the seller accepts, your lending company can begin processing your loan and moving you toward closing.
At this step in the mortgage process, you’ll need to hand over all that documentation you gathered in Step 3. Your loan officer may also request additional paperwork, and they will probably need to verify your employment with your boss or HR manager. When these requests come up, be sure to act quickly to avoid delaying your loan.
If all goes as planned, you’ll be signing those closing papers within just a few weeks. Once your funds are transferred to the seller, you’ll get your keys and are free to move into the home.
At Perennial Mortgage Group of Raleigh, we’re not like other mortgage companies. We won’t earn your trust only to hand you off to some stranger the minute your loan closes. Instead, we’ll be your lender for life. Today, tomorrow and beyond, the Perennial Mortgage Group of Raleigh team will be here for anything you need.
If you’re ready to get the home buying process started, reach out to Perennial Mortgage Group of Raleigh today. We’re regularly voted one of the best mortgage lenders in the North Carolina, and we’d honored to show you why.