The home buying process can seem complicated, but if you take things step by step, you will soon be holding the keys to your own home!

Nine steps to buying a home

Step 1: Figure out how much you can afford

What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate. Our Calculators are a great first step, but it is best to speak to a professional representative from First Omni to find out for sure.
 
A First Omni mortgage banker can also help you figure out how to manage and pay off your debt, and start saving for that down payment!
 
Step 2: Know your rights
 
Fair Housing: Equal Opportunity for All

Real Estate Settlement Procedures Act (RESPA).  A federal law designed to make sellers and buyers aware of settlement fees and other transaction-related costs. RESPA also outlaws kickbacks in the real estate business.

Predatory lending protection provided by state and federal law

See our Loan Lingo section for definitions of these topics.  First Omni can also provide further clarification of your rights over the phone or by email.

Step 3: Shop for a loan

Save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan.
 
Looking for the best mortgage: shop, compare, negotiate 
 
Step 4: Learn about home buying programs
 
First Omni has hundreds of loan programs to assist our consumers to purchase their first home.  Contact Us or Apply Now to find out what program best fits your needs.  Our quick and easy online application takes less than 5 minutes!

Step 5: Shop for a home

Consider your options:

If you choose a home in a neighborhood with a Home Owners Association (HOA), be sure to request a copy of the HOA packet, so you can review before closing.

Step 6: Make an offer

Discuss the process with your real estate agent or another real estate professional. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale.
 

Step 7: Get a home inspection

Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.

Step 8: Shop for homeowners insurance

Lenders require that you have homeowners insurance. Be sure to shop around for a competitive rate.


Step 9: Sign papers

You're finally ready to go to "settlement" or "closing." Be sure to read everything before you sign!