Getting Started

At this point, you're probably wondering how to get started. We understand how it may seem overwhelming. That's why we're here to assist you every step along the way.

Take a few moments and give us a call at (505) 730-8181 or send us an e-mail at info@nmrealty.com to receive quick and professional assistance.

Step 1: Arrange Your Finances

To get started, you'll need to gather all necessary information that will be provided to the lender. These items include, but are not limited to:

• Social security number(s)
• Recent pay stubs that detail your earnings
• Checking/savings account statements for the past 6 months
• If applicable, proof of additional assets (e.g. stocks, bonds, etc.)
• List of existing loans (e.g. auto, boat, etc.)
• Contact information of whom can verify your employment
• Last two years of income tax returns
• List of credit card accounts that display monthly payments due
• Any papers on judgments such as bankruptcies, etc.

We understand that some of the information above may not apply to everyone. Only gather what is applicable to you. If additional information is needed, the lender will request it.

Step 2: Meet With a Lender

This step takes place once you have acquired all the necessary information from step 1. The sooner you can meet with a lender, the sooner you can begin shopping for a home. To get connected with an appropriate and respectable lender, please call us at (505) 730-8181 or e-mail us at: info@nmrealty.com

Step 3: Save Money

If you haven't already been saving money, now is the time to start. This may require some sacrifices and/or tightening the belt of your normal spending habits. If earnest money is required, having the $500, $1,000 or specific amount on hand is to your advantage. Also, if there are any closing costs, upgrades, etc., these savings will apply towards them.

Step 4: Shop For a Home

Let's go shopping! At this point, you have provided the necessary information and have met with a lender who has provided a price range where you can begin looking for a home. Together, we'll find a home that meets your needs. This can be determined by comparing your criteria (e.g. 3 bedrooms, 2 story, etc.) to the available homes in the area of your interest. Then, together we go out and take an inside look at the specific properties.

Step 5: Closing

Once you've found a home and an offer is accepted, the closing process begins. During this period, inspections, appraisals and other related procedures are performed. Although you are almost into your new home, DO NOT take any money saved to purchase new furniture, a big screen TV, major appliances or a new car, etc. Towards the end of closing, a final check on available funds and your credit is reviewed for consistencies. Any changes, could result in not qualifying for the home. Once the keys are in your hands, you can then pursue those purchases.