How Do You Actually Buy A House?

The video tutorial provides a comprehensive guide to the home buying process, starting with securing a loan and working with a realtor, to making an offer and closing the deal. It emphasizes the importance of financial preparation and choosing the right team members, such as a loan officer and realtor. The tutorial also covers the option period, the role of the underwriter, and post-closing considerations like mortgage payments and moving costs.

What is the first practical step in the home buying process for most people?

• Securing a loan

• Finding a realtor

• Making an offer

• Visiting open houses

What is the ideal credit score and down payment percentage for securing better loan terms?

• Credit score of 700 and 10% down payment

• Credit score of 720 and 15% down payment

• Credit score of 680 and 3.5% down payment

• Credit score of 740 and 20% down payment

What role does a realtor play in the home buying process?

• Inspecting the house for safety

• Finding and negotiating the purchase of a home

• Securing a mortgage loan

• Providing legal advice

What should you avoid doing after your loan approval during the purchase process?

• Saving more money

• Consulting with a realtor

• Visiting open houses

• Changing jobs

During the option period, what is the typical deposit percentage given to the owner?

• 5%

• 1%

• 2%

• 3%

What is the role of a professional inspector during the option period?

• To finalize the loan

• To ensure the house is safe and up to code

• To provide moving services

• To negotiate the price

When is the first mortgage payment typically due after closing?

• Three months after closing

• The month after closing

• The same month as closing

• Two months after closing