FHA Loans for Homebuyers
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FHA Refinancing
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Need to Know
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FHA Programs for Homebuyers
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FHA Support: Step 5
Make Your Offer
Buying a home is confusing enough, but reading and understanding the purchase contract plus other required paperwork can be
overwhelming. Many homebuyers (and sellers) are overwhelmed by the complexity of the forms. Writing a home purchase contract
that includes all the essentials is not difficult. Start with filling in the blanks on a well-written printed purchase
contract, but don't hesitate to delete unwanted items and add essential terms.
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Qualify for an FHA Loan
Compare Refinance Mortgage Rates
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Study the purchase contract form you will be asked to sign. When you find something in the form you don't understand,
discuss that item with your realty agent. Equally important, check the form to be sure it includes the essentials.
Many of the forms prepared by the National Association of Realtors have hidden clauses which are anti-seller, anti-buyer
or both. They are written with the primary goal of getting the sale closed.
Don't be afraid to cross out what you don't
like. Just because something is printed on a purchase contract doesn't mean you must accept it. Either cross it out or
modify and initial the change to meet your wishes. Don't hesitate to take the form to an experienced
real estate attorney for advice.
Making an offer is all about the fine art of negotiation. Discuss the process with your real estate agent.
If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale
on your new FHA financed home.
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to Buying a Home with an FHA Loan
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> FHA Step 1
How much can you afford?
> FHA Step 2
FHA says, "Know your rights."
> FHA Step 3
Shop for an FHA loan.
> FHA Step 4
Shop for a place to call home.
> FHA Step 5
Make an offer for the home.
> FHA Step 6
Get a home inspection.
> FHA Step 7
Your homeowners insurance.
> FHA Step 8
Sign on the dotted line and move in.
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