Buying your first home can feel like a lot. It doesn’t have to. Here’s the whole process in seven simple steps, the same way I walk my first-time buyers through it.
1. Know your budget
Start with the monthly payment you’re comfortable with, not the biggest loan you can get. Include property taxes and insurance. My mortgage calculator shows the full monthly payment in seconds.
2. Get pre-approved
A lender reviews your income, credit and savings and tells you how much you can borrow. In Sioux Falls, sellers expect to see a pre-approval letter with your offer.
3. Ask about down payment help
You may not need as much cash as you think. South Dakota Housing’s new Give Me Five program offers eligible first-time buyers 5% down payment help that can be forgiven after five years. Veterans may qualify for a VA loan with $0 down.
4. Pick your areas
Think about your commute, schools and what you want nearby. Popular choices include Southwest Sioux Falls, Southeast Sioux Falls, Tea, Harrisburg and Brandon.
5. Tour homes and make an offer
I’ll set up showings, point out what to look for, and pull recent sales so you know what a home is really worth. When you find the one, we’ll write an offer that’s strong but protects you.
6. Inspection and appraisal
Once your offer is accepted, a home inspector checks the house from top to bottom and your lender orders an appraisal. If something comes up, I’ll negotiate repairs or credits for you.
7. Closing day
You sign the final papers, pay your closing costs, and get the keys. Welcome home!
Have questions?
Every buyer’s situation is different. Call or text me at 605-838-9140, or book a quick call, and I’ll help you figure out your next step. Se habla español.
