You are about to make one of the most important decisions in your life, the selection and the purchase of a home. This decision will bring you years of enjoyment and comfort. The process of purchasing a home can either be enjoyable or a nightmare. Spending all your free time evaluating homes and neighborhoods, applying for a loan, filling out contracts, and finalizing the purchase of your home can be extremely frustrating.

One of the first steps that will help you in the purchase of your home is the selection of a Real Estate Professional; this is a very important step. The Real Estate Agent that you choose will write all your contracts for the purchase of your home and also will act as an intermediary between you and the seller. If there are negotiations over price, closing dates, contingencies and items (such as appliances) to be left or taken, the agent will be the diplomat. Choose a licensed Real Estate Agent that is a member in good standing with the National Association of Realtors and their state and local boards because he or she must abide by a strict code of ethics. Another tool available to agents is the Multiple Listing Service (MLS), which provides up-to-the minute information on every home for sale in the market place.

Ask for a resume and some references of past clients before choosing an agent. If possible choose an agent with a designation because they have taken the extra steps to provide a better level of service and have pride in their profession. Designations are awarded to an agent after he or she has achieved certain requirements, which include education, and production levels. Your choice of the Real Estate Agent can either help or hinder the home buying process. Always be loyal and honest with the agent that you choose, tell your agent your likes and dislikes and if you have any questions, ask them. Communication is a key through the entire process.

The next step is applying for a loan. Today, you can go to any number of sources for a mortgage: banks, mortgage companies, insurance companies, private investors, or even pension plans. The most common is going through a mortgage company. They will determine what you qualify for. Once the amount of what you qualify for has been determined, then you must determine what type of loan you seek. If you are a qualified veteran of the armed forces, you may be able to obtain a 0% down payment loan. Other programs could require as little as 3% down, with standard loans available with 5, 10, 20% or more down. Your agent can often help you determine the best loan for you and which individual/mortgage company to use.

I recommend that you get "pre-qualified" or "Pre-approved" for the specific loan amount. So, in order to help the process move quickly it is best to have all the documentation prepared and together when loan application is made. The longer it takes to provide the necessary documentation to the loan officer, the longer the process will take. Remember that sometimes if the mortgage company is offering a great rate, they may be charging extra fees. So be careful in choosing your mortgage company.

Hopefully you will discover that all the ins and outs of finding and affording your own home aren't all that intricate after all. Besides symbolizing a rite of passage, especially if you are a first-time homeowner, owning a house gives you status. It is an accomplishment and a commitment. It will provide shelter, protecting you from the elements of nature, your house will offer you a retreat from whatever.