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Nursing in America

Buying a Home In The USA - Part 2

Oct 3, 2023
Listen to Aswathy, Daniel, Hugo, and Judy as they discuss the home buying process in the US. Topics include pre-approval, debt to income ratio, documentation requirements, negotiation strategies, and navigating the competitive housing market. They also provide advice on preparing financially and emphasize the rewarding feeling of homeownership.
36:25

Podcast summary created with Snipd AI

Quick takeaways

  • Get pre-approved before starting the home search process to know your budget and avoid falling in love with an unattainable home.
  • The escrow period, lasting 30 to 45 days, is a crucial time involving inspections, appraisals, loan approvals, negotiations, and consideration of additional costs.

Deep dives

Importance of Pre-Approval Process and Documentation

When purchasing a home, it is crucial to get pre-approved before starting the search. This ensures that the buyer knows their budget and can avoid potential heartbreak by falling in love with a home they are not qualified for. The pre-approval process involves submitting an application, providing credit reports, and demonstrating income through pay stubs and W2 forms. It is essential to have all necessary documentation in order to have a comprehensive understanding of one's financial situation.

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