Buying a Home

So you’re thinking about buying a new home?

The purchase of a home may be the single, biggest financial decision you will make in your life. In the midst of so many financing options, forms, insurance, negotiations, pricing and inspections, the EEM is here to provide you with resources to assist you in the home buying process.

1. Select a Lender
· Determine your purchasing power (how much home you can afford to buy).
· Utilize the Business Directory to locate a Mt. Gilead banker/lender.
· Check out and for grant assistance.

2. Select a Realtor
· Determine your needs and wants.
· Utilize the Business Directory to locate an experienced Mt. Gilead realtor.

3. Look for Your Home and Make An Offer
· Contract acceptance.

4. Make Formal Loan Application

5. Select a Closing Attorney or Title/Settlement Company

6. Conduct Home Inspection
· Request that the seller make repairs.

7. Conduct Home Appraisal

8. Order Home Insurance and Utilities
· Comparison shop for insurances.

9. Seller has Termite Inspection Performed
· Seller repairs any damage found.

10. Conduct Final Walk-through
· Verify that everything is still good with the home.

11. Review and Approve Settlement Statement
· Verify closing costs and credits are accurate.

12. Closing and Move-In Day
· Congratulations! You Are A Home Owner!

  1. The Obama Administration implemented the Making Home Affordable Program to help homeowners avoid foreclosure. Part of the program is designed to assist homeowners lower their monthly mortgage payments and get them into more stable loans at lower rates.
  2. Options are available for unemployed homeowners, as well as for homeowners who owe more than their homes are actually worth.
  3. The following are programs under the Making Home Affordable Program to assist homeowners modify or refinance their loans and lower their monthly payments:
  • Home Affordable Modification Program (HAMP)
  • Principal Reduction Alternative (PRA)
  • Second Lien Modification Program (2MP)
  • Home Affordable Refinance Program (HARP)
  • Home Affordable Unemployment Program (UP)

For information about the above programs and avoiding foreclosure, please visit and

Go ahead and take that first step toward Home Ownership!
You Can Do It! All you need to do is START!

“I can do all things through Christ which strengtheneth me.”  Philippians 4:13