How to Buy a House

Video Transcript

"Home ownership is still very much a part of the American dream. I'm Richard Blake in Tampa, Florida. I'm here to explain to you how you can buy a house. The first thing that you want to do is contact your local real estate agent and a local mortgage broker. You're going to want to find out how much financing you're approved for if you don't have a stack of cash laying around. Find out a good reputable mortgage broker in the area that's closed several transactions in the price range that you think that you'll be in. And bring along your personal information, such as your social security number, your income and your monthly debts, when you meet with this mortgage broker. This is going to help assist them in pin pointing exactly what you can get pre-approved for as far as financing is concerned. Once you have that magic number then you can go to the real estate agent and say I'm approved for a hundred fifty thousand, five hundred and fifty thousand, whatever that magic number is. And then you know exactly what type of properties to search for and within your certain price range. At that point in time you're going to ask the real estate agent for a list of properties and then you're going to start shopping. Once you've pin pointed that perfect home, then you're going to go back to your mortgage broker and let them know that you've selected a property and they're going to help you put the deal together from there. OK? I'm Richard Blake, it's a fairly easy process. I hope that helps you a little bit on it, on the first steps of how to buy a home. Thank you and have a great day."