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National Association of Mortgage Planners

Home Buying Action Plan

Successful home buying and mortgage attainment is not an event that comes to some people and not to others because of chance or luck. If that’s an idea you've harbored in the past—eliminate it from your mind right now. Successful home buying and mortgage attainment can be predicted, but you must have a plan and follow that plan

If you give a blueprint to a building contractor,do you think that it will be a matter of chance, or luck, that he will complete the structure successfully? Certainly not. He merely begins at the beginning and follows the plan step by step to its completion. It is true for building a modest home, a tall skyscraper, or your dream home.

The Action Plan below is your blueprint for success. If you follow it, successful home buying and mortgage attainment can be yours.

You're probably asking, "Where do I start?"Because of today’s increasingly complex world, The Action Plan is the starting point— follow the time proven logical sequence below and contact your nearest MortgagePlanner.

Complete Financial Inventory
NAMP - BulletAssets
NAMP - BulletLiabilities
NAMP - BulletCash available
NAMP - BulletCredit
NAMP - BulletCapacity (income & debt)
NAMP - BulletBudget

Complete Wants and Needs Assessment
NAMP - Bullet Description of home
NAMP - Bullet Location
NAMP - Bullet Schools
NAMP - Bullet Recreation
NAMP - Bullet Shopping
NAMP - Bullet Transportation
NAMP - Bullet Church
NAMP - Bullet Resale potential
NAMP - Bullet Employment access

Home Buying Objectives
NAMP - BulletUnderstand your rights as a consumer

  • Borrower’s Bill of Rights
  • Home Buyer’s Bill of Rights
NAMP - BulletProtect your equity
  • True Value of the home
  • Cash down
  • Closing costs
NAMP - Bullet Determine the risks or benefits when using,or not using a mortgage planner or real estate professional
NAMP - Bullet Understand the role of the lender NAMP - Bullet Use property inspections to your advantage
NAMP - Bullet Understand the appraisal process
NAMP - Bullet Anticipate closing surprises
NAMP - Bullet Know your legal and tax planning needs
NAMP - Bullet Accept marketplace realities
NAMP - Bullet Prepare for your next role as a seller

Obtain Financial Pre-Approval
NAMP - BulletShop for a mortgage planner (Questions to ask a Mortgage Broker)
NAMP - Bullet Hire the mortgage planner that will protect your interest (True Agency)
NAMP - Bullet Contract for mortgage services
NAMP - Bullet Qualify for home loan
NAMP - Bullet Wholesale interest rates
NAMP - Bullet Loan application and package

NAMP - Bullet Pre-qualification

  • Pre-loan processing
NAMP - Bullet Pre-approval letter
  • Loan processing is complete

Hire an attorney
NAMP - Bullet Know your legal rights as a home owner before signing legal documents
NAMP - Bullet Identify contract terms to protect the buyer

Interview real estate brokers
NAMP - Bullet Know the different types of real estate services available
NAMP - Bullet Shop for a real estate broker (use interview questions)
NAMP - Bullet Hire the real estate broker that will protectyour interest (True Agency)

Develop a negotiating strategy
NAMP - Bullet Smart Home Buying Tactics

Inspect available product (homes)supply
NAMP - Bullet Newspapers, MLS, the Internet (WWW)

Obtain independent appraisal
NAMP - Bullet True value

Conduct necessary home inspections
NAMP - Bullet The general condition of the home

Re-negotiate important contract terms
NAMP - Bullet Contract terms to protect buyer

Preview closing documents
NAMP - Bullet 24 hours in advance of closing
NAMP - Bullet Mortgage planner review with borrower
NAMP - Bullet Real Estate Broker review with Buyer

Close when satisfied
NAMP - Bullet Close only when you understand all the details of the Home Buying transaction
NAMP - Bullet Mortgage Planner & Real Estate Broker will attend closing

Annual Follow-up

Consumer Information
NAMP - Bullet Contact NAMP
NAMP - Bullet Why use a Mortgage Planner?
NAMP - Bullet Understanding "True Agency"
NAMP - Bullet Smart Home Buying Tactics
NAMP - Bullet Home Buying Action Plan
NAMP - Bullet Questions to Ask - Yourself
NAMP - Bullet Compare Brokers
NAMP - Bullet Borrower's Bill of Rights
NAMP - Bullet FAQ
NAMP - Bullet How to Hire a Real Estate Agent
NAMP - Bullet How NOT to Buy a Home!
NAMP - Bullet NAMP Members - Location Map
NAMP - Bullet Mortgage Planning = Savings - Article
NAMP - Bullet Front Page
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Contact Information:
NAMP - National Association of Mortgage Planners
voice: 972-264-8465

Consumer Information:
Member Information:

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