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7 Steps to Home Ownership

If there ever was a time to buy a home, it would be now! Historic low interest rates, home prices rising across the country, and prices expected to increase in some markets up to 10% annually for the next few years..

You might be surprised at how little you have to do to actually put yourself in a position where you are able to purchase a home. For many people it is a process that involves taking seven practical action steps to put themselves in a position where this is possible..

1. Get your finances in order. Make sure you know what your credit report says about you and clear up any errors or debts & ensure you have the proper down payment (3.5% for an FHA loan)..

2. Familiarize yourself with the basics of getting mortgage.  Decide on which local lender might be best for you before you start looking for a property to buy. A referral to a mortgage broker from your realtor is usually the best bet..

3. Get pre-approved for a mortgage. Meet with your lender and get a letter of pre-approval for a mortgage. Your realtor will attach a copy of this letter to any offer you make on a house to improve your chances of getting the home you want..

4. Find a top LGBT real estate agent. This means doing your homework at free sites like to review the profiles of the top gay realtors in the area where you want to move are. Buyer representation is free ~ ensure you are being represented!.

5. Actually start doing drive-bys of properties you’re interested in. The gay realtor you hire has automated systems that send you the new listings that meet your criteria daily..

6. Choose a property. When you find the house or condo that you like, ensure it has the minimum features you desire/require. At this point your agent will work the numbers, determine the actual value, and have a recommendation on what price to offer..

7.  Have your agent prepare a written offer; attach your mortgage pre-approval to it, write an earnest money check (this is a deposit that ensures the seller you are a serious buyer). Your agent will submit this offer to the seller’s agent, with a deadline for a response, which could be acceptance, a counter, or a rejection..

Once your contract is accepted you’ll have dates and deadline to meet; inspection of the property, appraisal of the property, formal loan approval, walk-through of the property prior to closing, etc. The professional gay realtor that is representing you in your purchase will guide you every step of the way..

Homeownership is an exciting time in life; historically it’s been the best long term investment in history. The benefits not only include huge tax savings, but a place to call your own… finally, king (or queen) of your own domain..

Author Jeff Hammerberg is the Founding CEO of