Your next chapter.
One clear step at a time.
From your first questions to the day you receive your keys, here’s what to expect—and what to do next.
Start with a plan
THE JOURNEY AT A GLANCE
01Plan
02Finance
03Search
04Offer
05Review
06Close
Whether this is your first purchase or your next move, begin with a plan that reflects your needs. Use these six stages to prepare for a conversation with Hong and your lender.
Start with your life, then your budget.
A home should fit the way you live—and leave room for everything else that matters. Get clear on your priorities before you begin touring.
- Write down your must-haves, nice-to-haves, and dealbreakers. Consider your commute, space, accessibility, and how long you expect to stay.
- Set a comfortable monthly housing budget. Include taxes, insurance, any HOA fees, utilities, and ongoing maintenance.
- Plan for the down payment, closing expenses, moving costs, and a reserve for unexpected repairs.
Understand your financing early.
Speak with lenders before you fall in love with a home. Knowing your options helps you search within a price range that works for you.
- Ask which income, asset, debt, and credit documents your lender needs, and gather them securely.
- Discuss preapproval, loan options, and your own spending limit. A preapproval letter is conditional—not a guarantee of final financing.
- When comparing Loan Estimates, review the interest rate, loan term, fees, monthly payment, and cash needed to close.
Look beyond the first impression.
Use your priorities as a consistent lens for every property. Hong can help you compare homes and understand local market activity.
- Visit the areas you are considering and check the everyday details: commute, services, noise, and access.
- Take notes after each tour. Compare layout, condition, outdoor space, and likely improvements—not just the photographs.
- Ask for available disclosures and property records. Discuss questions about boundaries, utilities, HOA documents, or rural systems when relevant.
Make an informed offer.
Price is one part of the offer. Timing, deposits, financing, and inspection terms also shape the agreement.
- Review comparable sales and the property’s condition with Hong before deciding on your offer.
- Understand the written purchase agreement, deposit obligations, contingencies, and deadlines before signing.
- Discuss the consequences of changing or waiving protections. A preapproval alone is not a reason to remove a financing contingency.
Know what you are buying.
Once an offer is accepted, use the time allowed in your agreement to investigate the property and complete your financing.
- Arrange an independent home inspection promptly. Ask whether specialized evaluations are appropriate for the home.
- An inspection examines condition; an appraisal assesses value for the lender. One does not replace the other.
- Review findings, disclosures, title information, and any HOA documents with the appropriate professionals. Resolve questions and repair requests within your contract deadlines.
Close with clarity. Settle in with confidence.
Before the final signatures, confirm the paperwork, property condition, and timing of possession with your closing team.
- For most mortgages, the lender must provide the Closing Disclosure at least three business days before closing. Compare it with your Loan Estimate and ask about differences.
- Arrange a final walkthrough, confirm agreed repairs, and verify the funds and documents your closing team needs.
- Confirm when you will receive keys and possession. Coordinate utilities and your move, arrange to rekey the locks, and keep your closing documents together.
A little preparation goes a long way.
Before your first meeting, have your preferred locations, ideal moving date, comfortable budget, and three must-have features in mind.
Homebuying guidance from Hong Wolfe, with CFPB mortgage resources. General guidance; your purchase agreement, lender requirements, and local rules determine the details of your transaction.