1. Get pre-approved for a home loan
2. Know your rights
3. Shop for a loan
4. Learn about homebuying programs
5. Shop for a home
6. Make an offer
7. Get a home inspection
8. Shop for homeowner's insurance
9. Sign papers

Step 1: Get pre-approved for a home loan

Don't waste time searching for your new home until you know how much you can afford to spend! Determining your price range will require an analysis of your income, credit rating, current monthly expenses, down payment and the interest rate. The mortgage calculator on the Mortgage Tools page can give you a general idea, but it is best to talk to your loan officer to find out your exact range. Need help with your down payment and/or closing costs? A housing counselor can help you figure out how to manage and pay off your debt, and start saving for that down payment!

Step 2: Know your rights

Read about your Borrowers' Rights and Fair Housing: Equal Opportunity For All at www.Hud.gov.

Step 3: Shop for a loan

TN-Loan.com is your local FHA specialist! Whether you are looking to purchase or refinance, in today's mortgage world an FHA loan is often the best option. Visit our Get A Loan! page to view some of our other loan options. As a mortgage specialist, your loan officer will research a multitude of lenders to compare costs and interest rates and negotiate to get you the best deal possible.

Step 4: Learn about homebuying programs

Here at TN-Loan.com your loan officer has access to every available home buying program. Need help with your down payment? Ask us about our many down payment assistance programs. Wanting 100% financing? Ask us about a rural development loan or a USDA loan. Contact your loan officer to tell us about your specific needs and will examine our programs to match you with the ideal program for you.

Step 5: Shop for a home

Now that you have been pre-approved for a home loan and you know which home buying program you will use, you are ready to start searching for that perfect new home. Trying to find the right home can be tedious and stressful, so we highly suggest utilizing the expertise of a real estate agent. Typically, the person selling a home will have a listing agent to represent them and their needs. Doesn't it make sense to have a buyer's agent to promote you and your needs? Our loan officers regularly work with experienced local realtors, so don't hesitate to contact us for a recommendation.

Before you get in touch with a realtor, you may want to put together a wish list with the features you want in your new home. Give a copy of this list to your real estate agent and take a copy with you when comparing homes. Consider negotiating for a low price on a "fixer-upper" or visit www.Hud.gov to search for foreclosed homes in your area. A doublewide manufactured home is an affordable option as long as it is on permanent foundation.

If you choose a home in a neighborhood with a Home Owner's Association (HOA), be sure to request a copy of the HOA packet, so you can review it before closing.

Step 6: Make an offer

This is another step in the process where it is beneficial to have a real estate agent representing you. Your realtor will discuss and draw up the contract for you. Then, if the seller counters your offer, your realtor will help you negotiate until an agreement to the terms of the sale is reached. Once you've settled on a sales price, contact your loan officer so they can submit your final loan application to the appropriate lender. Click here for more details about exactly what goes on during the loan process.

Step 7: Get a home inspection

Ask your realtor to make your offer contingent on a home inspection. An appraisal is required for all home purchases, but do not confuse an appraisal with a home inspection. A home inspection is more thorough and should examine the following: Structural Elements, Exterior Elements, Roof and Attic, Plumbing, Systems and Components, Electric, Appliances, and Garage. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.

Step 8: Shop for homeowner's insurance

All lenders will require you to have homeowner's insurance. Contact us for a list of insurance representatives that will be happy to help you with this process.

Step 9: Sign Papers

Hooray! You're finally ready to go to your closing! Your loan officer will meet with you beforehand to go over the finalized details of the loan and to answer any final questions you might have. They will also join you at the closing to answer any questions the title company might have. Here at TN-Loan.com we want your home-buying experience to be as easy and stress-free as possible, so we will be by your side to help you every step of the way!