{"id":912,"date":"2023-11-04T14:29:38","date_gmt":"2023-11-04T14:29:38","guid":{"rendered":"https:\/\/shineyhomes.com\/?p=912"},"modified":"2023-11-04T14:29:38","modified_gmt":"2023-11-04T14:29:38","slug":"buying-a-house-in-washington-heres-a-step-by-step-guide","status":"publish","type":"post","link":"https:\/\/shineyhomes.com\/buying-a-house-in-washington-heres-a-step-by-step-guide\/","title":{"rendered":"Buying A House In Washington? \u2013 Here\u2019s A Step-By-Step Guide"},"content":{"rendered":"
It is exciting and somewhat scary to think about buying your first home. Besides, it is probably your biggest investment to date, and might be for a lifetime. Therefore, even when you know what you want, you might not know where to start. Here is a step-by-step guide for first-time home buyers that will help you navigate the process from start to finish.<\/span><\/p>\n Step 1: Set a Reasonable Budget<\/b><\/p>\n The first step in <\/span>buying a home in Washington<\/b> is establishing a reasonable budget. To assess how much you can comfortably borrow, use the 28\/36 rule, often known as the debt-to-income ratio.<\/span><\/p>\n The debt-to-income ratio states that the total housing cost should not surpass 28% of your gross income. Your total debt payments should also not surpass 36% of your income. Lenders will use this to confirm that you can make your mortgage payments.<\/span><\/p>\n Step 2: Obtain a Mortgage Pre Approval<\/b><\/p>\n Before hunting for <\/span>Washington luxury homes<\/b>, you should also consider obtaining a mortgage pre approval. Applying for a mortgage pre approval requires submitting extensive paperwork, and verifying your assets, credit, debt, employment, and more.<\/span><\/p>\n Step 3: Start House Hunting<\/b><\/p>\n House hunting is the most exciting part of the home buying process. But before you become carried away and fall for a home, create a list of your “must-haves.”<\/span><\/p>\n What do you need in a house, including location, safety, space, work commute, school, and other amenities? Also, what are some nice features you want for your home, such as view, space, floor type, and more?<\/span><\/p>\n