First Time Buyers

Taking the step to buy your first home is a big milestone in your life. Understanding Louisville’s market, what you are looking for in a home, and the overall process from searching to closing on a home is key. Below is a guide with resources to help you through the home buying process.

1.  TALK TO A REALTOR®

This is where your Semonin Realtor® can help you the most. They will be your advocate in the buying process and will guide you every step of the way to ensure you find the right home.

2.  GET PRE-APPROVED

Before you start your home search, it's important to obtain a pre-approval letter from your lender. Your Semonin Realtor® will be able to guide you through this step and ensure that you understand the ins and outs of this process. To learn more about what type of mortgage will fit your needs, click here.  

3.  DETERMINE YOUR BUDGET

Once you know the price range of your new home based on your pre-approval, define your budget. This will also help you in choosing the loan that works best for you. Try out our Mortgage Calculator to see what your monthly mortgage payments could be.

4.  KNOW WHAT YOU WANT

Be sure to let your Semonin Realtor® know exactly what you are looking for and what you expect in your new home. This will help to narrow the search, and prevent you from wasting time on homes that you are not interested in. Follow the Buyers Road Map to identify exactly what you are looking for.  

5.  MAKE AN OFFER

When you find a home that you want to buy, your Semonin Realtor® will help you submit an offer that has the best chance of being accepted while also negotiating the best possible price and terms for you.  

6.  SEEK A LOAN

Now is the time to speak with your lending agent to officially begin the loan process. If you have already been pre-approved for a loan, you will save a lot of time and paperwork. If you don't already have a mortgage consultant, visit our affiliate, Prosperity Home Mortgage, to get started!

7.  HAVE THE HOME INSPECTED

It is highly recommended to have the home you are purchasing inspected. The purpose of a home inspection is to determine the condition of the home at the time of sale. If problems are found, your Semonin Realtor® will assist you in negotiating repairs.

8.  CLOSING

This is probably the step of the process with the most paperwork. All the necessary legal papers are signed by all parties and monies are collected and dispersed. Your Semonin Realtor® will assist you in ensuring all the legalities for your closing are in order.

9.  TAKE THE KEYS

It's all yours...congratulations!


Buyers Resources
Choosing a Mortgage | Insurance Options | Questions to Ask | Terminology