e process of buying your first home may seem daunting. But the steps are very straightforward, and you can get an overview of the process pretty quickly. Below, we go over how to buy your first home in Indiana, one step at a time.

1. Calculate your budget. Before you can jump into your home or mortgage search, it is critical to check your budget. Calculate how much home you can afford. You can use a free mortgage calculator online to help you do this.
2. Choose a mortgage company in Indiana. After you know how much you can afford to spend on your first home, you will need to choose a mortgage company to work with. To get personalized service, choose an independent mortgage company, rather than a big box lender.
3. Pick a home loan and apply. Your mortgage professionals will work with you to help you explore the different mortgage options, and discover lending products that are suitable for your individual scenario. Choose the one that makes the most sense for your situation, and apply. During this stage, you can also get pre-qualified and pre-approved for a mortgage, which will give you a mortgage pre-approval letter.
4. Shop for a home. Shop for you dream home. With numerous beautiful neighborhoods and styles of homes in Indiana, there is plenty to choose from. This is one of the most exciting steps in the process for many homebuyers. While you are shopping for your home, your mortgage company will be processing your application. Keep an eye on your phone and inbox during this time. Sometimes, you may need to submit additional paperwork. If that happens, the faster you reply, the faster the process can keep moving forward.
5. Make your offer. Submit your offer to the seller. Showing them your mortgage pre-approval letter will help you get your offer taken seriously. Negotiate as needed.
6. Get the home inspected. Now it is time to get the home inspection completed.
7. Buy homeowner’s insurance. After the inspection is done, another step you will need to take before you close is shopping for a homeowner’s insurance policy. Keep in mind that homeowner’s insurance is separate from mortgage insurance. You may or may not be required to purchase mortgage insurance. But you need homeowner’s insurance either way.
8. Close. The last step in the process is to close. On closing day, you will sign all the paperwork, and you will be given the keys to your new home. After you leave, you will be able to start moving into the home. You will officially be a homeowner.

Buy Your First Home in Indianapolis or Beyond

Grandview Lending has helped many first-time homebuyers with a wide range of budgets and scenarios to buy their first homes quickly and affordably. To get started, please call (317) 255-0062 to schedule your consultation. We can help you purchase your first home in Indianapolis, or anywhere in Indiana.