Homebuyer's Guide

Homebuying 101

Review a few tips and basics to help with the homebuying process. Remember, when you finance your home through Advantis, you’ll enjoy the guidance of a local lending expert every step of the way.

Be financially prepared

Make sure you're financially prepared before you apply for a mortgage – you’ll enjoy a lower rate and better terms. Review our key concepts to know so you feel ready to jump into the homebuying process.

Secure financing before you shop

Get pre-approved (not just pre-qualified) for financing, so you’ll know how much you can spend. Pre-approval increases your chances to buy because the seller knows you’ve already secured financing.

Apply for an Advantis mortgage. After we receive your application, a local Advantis mortgage loan officer will contact you to discuss your application and help you choose the right loan to fit your needs.

Choose your real estate agent

Your agent will help you search listings, arrange property showings, handle negotiations and make sure your paperwork is in order so your purchase runs as smoothly as possible. If you need help finding an agent, your mortgage loan officer can recommend a few options.

Make an offer

When you’ve found a home that fits your needs and you’re ready to purchase, your agent will look at comparable properties in the area in order to help you determine a fair price to present to the owner. See our key concepts for additional details on this step and other key terms to understand. It's time to contact your mortgage loan officer to discuss the next steps in financing.

Get an inspection and appraisal

After the seller accepts your offer (or you both agree on a counteroffer), you’ll get an inspection on the home and your lender will order an appraisal to determine its market value.

Prepare for closing

After the inspection and appraisal are complete, it’s time to prepare for closing. You’ll need to purchase homeowners insurance, since your lender will require proof of a policy at closing. Earthquake or flood insurance may be required, depending on the location of the home. The title company will call to schedule your signing appointment. At that time, they’ll let you know exactly how much you’ll need for your closing. The title company will provide you instructions on wiring funds to cover the costs.

Close on the house

Your lender will send all the required documents to the title company. The title company employee or closing agent will act as a neutral third party to ensure that:

1. The terms of the purchase contract are met
2. The lender’s conditions have been met and all required paperwork is signed
3. The money has changed hands
4. The title to the property is transferred to you with the lender’s lien

Unless other arrangements are made, you’ll receive the keys from the closing agent once the sale is recorded.

Move on in

Congratulations! It’s time to move into the house you’ve purchased and make it your new home.

Property restrictions and other conditions apply. Contact a mortgage officer for details. For all dwelling-secured loans, hazard insurance is required and flood insurance may be required. All loans are subject to underwriting approval.