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—complete the mortgage application documents provided by Alexander Mortgage to get pre-approved for financing so you know what you can borrow and therefore spend.

—use Alliance Realty Advisors to search for and find a good property to buy and make sure your best interests are protected. You get to use our expertise without it costing you anything extra.

—consult with a good real estate lawyer, then submit an "offer" to buy. This is a short contract to show that you and the seller agree on the price and terms. You will usually need to write a check for a deposit (often $500 to $1,000 to the "listing real estate agency") to show good faith when you make the offer. These amounts (like the price and all the terms of a purchase) are negotiable, and Alliance Realty Advisors together with Alexander Mortgage can help you negotiate the transaction. This money is supposed to be returned to you if the seller does not accept your offer and you have followed the terms of the agreement. But sometimes a dispute arises and this deposit will be held until the dispute is resolved. It is money at risk and the less the better!

—hire a good home inspector. Expect to spend $250– to $400 for an inspector to determine the condition of the property. Then you can renegotiate the price based upon the inspection results. Having Alliance Realty Advisors on your side really comes in handy!

—sign the more comprehensive "Purchase and Sale Agreement." This includes the inspection, financing, and closing dates. Alexander Mortgage orders the appraisal, which is a professional third-party opinion of the value of the property based heavily on what similar properties in the area have sold for in the past six months. From there, a $300 fee is necessary to complete the mortgage application. You may need to write an additional check and give it to the "listing real estate agency" to show "more good faith" ($500 to $5,000 or a percentage of purchase price agreed to by both you and the seller). Again, these amounts, like the price and all the terms of a purchase, are negotiable and Alliance Realty Advisors together with Alexander Mortgage will help negotiate the transaction. This money is supposed to be returned to you if you have followed the terms of the agreement, but sometimes a dispute arises and this deposit money is held until it is resolved. It is money at risk and the less the better!

—complete the mortgage approval process before the expiration of the financing contingency date stipulated in the Purchase and Sale agreement. If for some reason it just can’t be done, we’ll ask the seller to extend the date. However, Alexander Mortgage is very good at meeting deadlines.

—the attorney for the lender (also called the closing attorney) researches the title to the property to make sure it can be insured and transferred to you without any problems arising after you move in. This is an important step to help make sure that no one can come along after you have paid for a property and claim you don’t really own it.

—is usually held at the lender attorney’s office or the county registry of deeds. After you sign the required mortgage loan documents, the bank transfers the loan money to the lender’s attorney, and the attorney then pays off any existing mortgage loan that the seller has secured by the property and pays the seller whatever is left over. The seller signs the deed to the property over to you and gives you the keys. If the loan is not enough to cover the price and all the costs, you need to need to bring a bank check for the difference—so it is important to make sure you have enough money beforehand. Alexander Mortgage will make sure all the money is ready at the best possible rate and terms before you get to the closing. Throughout the entire process, you have the benefit of our expertise (twenty years—$1.5 billion in loan closings) in structuring financing and accessing many different sources. We can save you quite a bit of time and money, and we are paid to do this by whatever lender is selected to provide the money. Why? Because the lenders want your business and they give us access to better rates and terms than you could get from going directly to any individual lender. We provide volume to them that is unattainable by an individual borrower. We also know where to find the best match of loan program, rate, and terms to borrower objectives and credit profiles. We have the interest rates and underwriting requirements for many lending sources and thousands of loan programs available to us daily. Because of this, we are able to evaluate real interest rate and other information to make sure the loan gets approved and closed on time at the best possible rate and terms available to complete your transaction.

—pop open the Champagne to celebrate the purchase of your new home. Congratulations from all of us at Amortgage.com. Owning your first home is a major milestone in life.