Buying your first home can be a daunting task, but it doesn’t have to be. RK Home Loan is here to help you every step of the way. We’ll work with you to understand your needs and budget, and we’ll help you find the perfect loan for your new home.
Here are the steps involved in the first home purchase process:
- Deposit: You’ll need to make a down payment of at least 3% of the purchase price of your home.
- Property search: RK Home Loan can help you find the perfect property for your needs. We have a wide selection of homes to choose from, and we’ll work with you to find a home that fits your budget and lifestyle.
- Solicitor: You’ll need to hire a solicitor to handle the legal paperwork involved in buying a home. RK Home Loan can recommend a reputable solicitor who can help you with this process.
- Income: You’ll need to have enough income to qualify for a loan. RK Home Loan can help you determine how much you can afford to borrow.
- Loan process: RK Home Loan will work with you to get pre-approved for a loan. This will give you an idea of how much you can borrow and what your monthly payments will be.
- Stamp duty: You’ll need to pay stamp duty on your home purchase. The amount of stamp duty you’ll pay will depend on the purchase price of your home.
- Cooling off period: You have a cooling off period of five business days after you sign the contract for your home. During this time, you can change your mind and cancel the contract without penalty.
- Settlement: The settlement date is the date when you’ll officially own your new home. On this date, you’ll pay the balance of the purchase price, and you’ll receive the keys to your home.
RK Home Loan is here to help you through every step of the first home purchase process. We’ll work with you to find the perfect home, get pre-approved for a loan, and handle all the paperwork involved. Contact us today to learn more about how we can help you buy your first home.