PenFed Mortgage with Confidence


The 7 Steps to Home Ownership



Understanding what’s involved in a new home purchase from the start can make the entire process much easier.  To assist you in your home buying journey, we’ve created a free downloadable eBook entitled “The 7 Steps to Home Ownership.”

In the eBook, you’ll learn what to do and expect when you’re looking for (or have already found) your dream home.  Here are some of the key things you’ll discover:

  • Prequalified vs. Preapproved — What’s the difference?
  • The document checklist you’ll want to have ready early on
  • Buying in a seller’s or buyer’s market — what’s the difference and how to benefit
  • Tips and tricks in working with a Realtor
  • 5 critical contingencies to look for in a real estate contract
  • What are the fees involved, who pays them, and are they negotiable?
  • Tips on how to negotiate the best price
  • The key to application success
  • Locking in your rate

To learn more about PenFed loans or what loan is right for you:


1 Your Dream Home: Can You Afford It?Zillow Group. “Buying a Home in America.” Consumer Housing Trends 2019.

Zillow Group. Consumer Housing Trends 2018.

2 If Not Now… Buyer’s Market, Seller’s MarketGascon, Charles S.; J. Haas. “The Impact of Covid-19 on the Residential Real Estate Market.” Regional Economist, Fourth Quarter 2020, Federal Reserve Bank of St. Louis.

Investopedia. “Buyer’s Market.”

Investopedia. “Seller’s Market.”

National Association of Realtors Research Group. 2021 Home Buyers and Sellers Generational Trends Report.

National Association of Realtors. Profile of Home Buyers and Sellers (highlights). 2020.

3 Realtor RealitiesGorey, Jon. “Should You Negotiate What You Pay in Real Estate Commissions?” Boston Globe, May 20, 2020. 

National Association of Realtors Research Group. 2020 Profile of Home Buyers and Sellers.

4 Hidden FeesBundrick, Hal M. CFP. “Mortgage Rate Lock: When Do I Lock In My Interest Rate?”, May 25, 2018. “How to Reduce Closing Costs.”

Zhu, Kenny. “What Mortgage Closing Costs Are Negotiable? Getting the Best Deal.” Lending Tree/ValuePenguin, March 25, 2021.

5 ContingenciesQuicken Loans. “Who Pays Closing Costs: Buyer or Seller?”

6 Interview with an Underwriter / Loan ApplicationCampisi, Natalie. “Answers to Top Mortgage Rate Lock Questions.”, March 16, 2020.

Consumer Financial Protection Bureau. “What Is a Closing Disclosure?” Sept. 12, 2017.

7 ClosingAraj, Victoria. “90+ Must_Know Home Buying and Mortgage Statistics for 2021.” (The average annual 30-year mortgage rate for 2020 was 3.11%. (Freddie Mac, 2021.)) Rocket Mortgage by Quicken Loans, March 17, 2021.

Federal Bureau of Investigation Internet Crime Complaint Center. Internet Crime Report 2020.

Freddie Mac. Millennials and Housing: Homeownership Demographic Research 2021.

Freddie Mac. “Understanding the Homebuying and Closing Documents.”

Porter, Kim. “Complete Checklist of Documents Needed for a Mortgage.” US News & World Report, Sept. 6, 2019.

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