Get to Know Your Homebuying Team

Like many big goals, purchasing a home requires teamwork. A whole network of industry professionals are involved in the process to connect the homebuyer to the right loan for their unique financial circumstances, help them find that dream home and make sure that the home is safe and affordable.

Get to know a few of the key players below.

 

Some of these professionals will become familiar faces throughout the homebuying process while others work behind the scenes to make your home purchase happen.

Lender

A lender works for the institution that finances your mortgage. They will assess your financial situation, including your credit history and income, to determine the loan amount their lending institution can offer you.

Most mortgage lenders offer borrowers the same loan products, so finding the right lender might depend on comparing the different fees charged by lending institutions or relying on word-of-mouth recommendations from family, friends or a trusted real estate professional.

Through your lender you will prequalify for a loan, letting you know the mortgage amount you qualify for. This is based on the current rates and fees at the time of your prequalification application so it can change, but it gives you an idea of the homes you can be shopping for.

Your lender will also help you understand the loan types for which you qualify, such as a VA loan or a loan for first-time homebuyers.

See our Featured Lenders and the full list of AHFC-approved lending institutions.  

Real Estate Licensee

A real estate licensee helps complete real estate transactions, serving as an intermediary between the buyer and the seller to ensure the transaction complies with laws and regulations. As a prospective buyer, your real estate licensee can help you find the right home, navigate the negotiation process and finalize the transaction.

A licensed real estate agent or broker has undergone training, licensing and continuing education, making them a valuable resource throughout your homebuying process.

Home Inspector

A home inspector is an important part of your homebuying team as they can help you feel confident in your home purchase and identify potential safety issues or expenses. For certain mortgage loans, a home inspection may be required as part of the financing process.

Home inspectors in Alaska must be licensed and are regulated by the Department of Commerce, Community and Economic Development. Your real estate licensee may be able to recommend a home inspector, or you can ask your family or friends if they have worked with someone they recommend.

See the list of AHFC-approved home inspectors.

Looking for More?

There’s a lot more to learn in FinallyHome! Sign up for the no-cost homebuyer education class to take your first step toward homeownership.