Homebuyer guide

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Welcome to the Houseful homebuyer guide. This video will walk you through the homebuying process from start to finish. Whether you’re trying to understand the big picture or get into the specifics of a certain step, this video has what you’re looking for. Learn how to get your finances in order, assemble a team of experts and make a winning offer on a home you love.

0:00 Introduction
0:54 Getting started
2:54 Understanding your budget
3:40 Browsing homes
4:26 Securing financing
6:00 Finding an agent
7:03 Touring homes
8:01 Making an offer
10:04 Closing

**Resources**

**Glossary**

Mortgage
Type of loan with a bank or other financial institution you can use to purchase a home and pay back over time.

Down payment
The amount of money you will need to pay upfront when you purchase a home.

Mortgage insurance
Insurance that protects your lender in case you’re unable to make mortgage payments.

Pre-qualification
A quick and easy estimate of what you may be able to afford based on self-reported data like income, debts and assets

Pre-approval
A specific offer that a lender is prepared to loan you based on your credit score, financial statements, debts and income.

Hard inquiry
Credit check that happens whenever a lender needs to pull your official credit report, which lowers your credit score a little bit.

Real estate agent
Licensed and trained professionals in the business of buying and selling homes.

Buyer Representation Agreement
Contract between homebuyer and real estate agent that outlines the terms and conditions of their working partnership.

Conditions
The terms a seller must meet in order to finalize the home purchase.

Appraisal
When a licensed, third-party appraiser visits the home and assess its value.

Inspection
When a licensed professional visits the home to take a look at its overall condition.
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