Table of Contents

Welcome

Why Buy a Home?

Is Now the Right Time?

Understanding the Home Buying Process

Step 1 – Determine Your Budget

Step 2 – Get Pre-Approved

Step 3 – Find the Right Realtor

Step 4 – Start Your Home Search

Step 5 – Making an Offer

Step 6 – Home Inspection

Step 7 – Appraisal

Step 8 – Loan Approval

Step 9 – Title & Closing

Closing Costs Explained

What NOT to Do Before Closing

Moving Checklist

Home Maintenance Tips

Frequently Asked Questions

Buyer Checklist

Contact TNG Realty

Welcome

Buying a home is one of the biggest financial decisions you'll ever make.

Whether you're purchasing your first home, upgrading, downsizing, or investing, this guide will walk you through every step so you know exactly what to expect.

At TNG Realty, our mission is to make buying a home simple, stress-free, and rewarding.

Why Buy a Home?

Benefits include:

✔ Build Equity

✔ Stable Monthly Payments

✔ Tax Advantages*

✔ Freedom to Personalize

✔ Long-Term Wealth Building

✔ Pride of Ownership

(*Consult your tax advisor.)

Is Now the Right Time?

Ask Yourself:

✓ Do I have steady income?

✓ Do I have savings for down payment?

✓ Is my credit in good shape?

✓ Am I planning to stay at least 3–5 years?

✓ Am I financially ready for homeownership?

If you answered "Yes" to most questions, you're likely ready.

The Home Buying Roadmap

Meet with Realtor

Get Pre-Approved

Search for Homes

Tour Homes

Write Offer

Negotiate

Inspection

Appraisal

Final Loan Approval

Closing Day

Get the Keys

Step 1: Determine Your Budget

Your monthly housing payment should comfortably fit within your financial goals.

Remember to budget for:

• Mortgage

• Property Taxes

• Homeowners Insurance

• HOA Fees

• Utilities

• Maintenance

• Emergency Repairs

Step 2: Get Pre-Approved

A mortgage pre-approval tells you:

✓ How much you can afford

✓ Estimated monthly payment

✓ Interest rate options

✓ Loan programs available

Benefits:

✔ Stronger offers

✔ Faster closing

✔ More negotiating power

Common Loan Programs

Conventional Loan

Good credit

Low PMI

Flexible

FHA Loan

Lower down payment

Flexible credit

Great for first-time buyers

VA Loan

No down payment

No PMI

Veterans only

USDA Loan

Rural areas

Zero down payment

Income restrictions apply

Step 3: Find the Right Realtor

A great Realtor helps you:

✔ Find the best homes

✔ Schedule showings

✔ Negotiate price

✔ Explain contracts

✔ Coordinate inspections

✔ Guide you through closing

Your Realtor works for YOU.

Step 4: Home Search

Consider:

Location

Schools

Commute

Neighborhood

Future resale value

Lot size

Home condition

HOA

Nearby shopping

Safety

Step 5: Making an Offer

Your Realtor will help determine:

Purchase price

Earnest money

Option period

Closing date

Repairs

Seller concessions

Contingencies

Earnest Money vs Option Fee

Earnest Money

Shows commitment

Applied toward purchase

Usually refundable under contract terms

Option Fee

Paid directly to seller

Allows buyer time to inspect

Generally non-refundable

Step 6: Home Inspection

A professional inspector evaluates:

Roof

Foundation

Electrical

HVAC

Plumbing

Windows

Doors

Appliances

Attic

Exterior

After inspection, buyers may negotiate repairs or credits.

Step 7: Home Appraisal

Required by the lender.

The appraiser determines market value.

If appraisal is lower than purchase price:

Renegotiate

Buyer pays difference

Seller lowers price

Cancel (depending on contract)

Step 8: Loan Approval

Your lender will verify:

Income

Employment

Assets

Credit

Bank statements

Tax returns

Insurance

Once approved—

Clear to Close!

Step 9: Title Company & Closing

The title company:

Verifies ownership

Searches public records

Prepares documents

Handles escrow

Collects funds

Records the deed

Distributes money

Ensures legal transfer of ownership

Closing Costs

Typical buyer closing costs include:

Loan fees

Appraisal

Credit report

Title insurance

Escrow fees

Recording fees

Taxes

Prepaid insurance

Interest

What NOT To Do Before Closing

Don't:

Buy a new car

Open new credit cards

Quit your job

Transfer large sums of money

Miss payments

Finance furniture

Co-sign loans

Large purchases may affect loan approval.

Closing Day

Bring:

Government ID

Cashier's check (if required)

Wire confirmation

Proof of insurance

Smile!

You'll sign several documents and receive your keys after funding.

Moving Checklist

Change address

Transfer utilities

Schedule movers

Internet service

Home warranty

Deep clean

Change locks

Update driver's license

Notify employer

Register to vote

Home Maintenance Calendar

Monthly

Replace HVAC filter

Check smoke detectors

Clean garbage disposal

Quarterly

Inspect plumbing

Clean gutters

Test GFCI outlets

Annually

Service HVAC

Roof inspection

Water heater flush

Foundation inspection

Frequently Asked Questions

How much down payment do I need?

Anywhere from 0% to 20%, depending on loan type.

How long does closing take?

Typically 30–45 days.

Can I buy with student loans?

Yes.

Should I waive inspection?

Usually not.

What credit score is needed?

Programs vary, often starting around 580–620.

Home Buyer's Checklist

✓ Hire Realtor

✓ Get Pre-Approved

✓ Review Budget

✓ Search Homes

✓ Tour Homes

✓ Submit Offer

✓ Negotiate

✓ Inspection

✓ Appraisal

✓ Loan Approval

✓ Final Walkthrough

✓ Closing Day