Borrowers, The Time to Get Ready to Buy a Home is NOW
Here we are in the New Year. Now is usually when we start proposing and working on our New Year’s resolutions. For some of us, one of those resolutions is beginning the home buying process.
We’re here to tell you why now is the perfect time to get that home!
Why the First Quarter Is a Great Time to Buy A Home
If you were to speak with anyone in the real estate industry, many of those individuals would tell you that any time is the perfect time to start looking for a home.
We’re here to tell you that based on experience, the first three months of the year would be an excellent time to do so.
Let us tell you why:
- According to data from Zillow, the end of the first quarter presents the most opportunities with new listings and open houses. You’ll likely have more homes to choose from in your home buying journey.
- If you start your home buying process now, you are more likely to close by the end of the first quarter, which is around spring.
- Buying in the spring allows families to get settled during the summer. Families often want to get settled in their homes before a new school year begins.
Why it's Important to Start Now
Given the intense level of competition for housing in today’s market, sellers are looking for offers from serious buyers. The best way to make sure your offer is taken seriously is to get prequalified.
Getting prequalified for a home will set you apart from other buyers. It also helps you to figure out the right loan program for you before you start looking at houses.
Prequalification will help put you on the right path for home ownership.
How Do I Start the Home Buying Process?
Now that you know the benefits of looking for a home in the first quarter, the next question is: How do I start the process?
The first step is to figure out how much house you can comfortably afford.
And how do you do that? Through pre-qualification.
Based on the income information you provide and your credit history, we’ll prepare a pre-qualification letter for you. This letter will provide the following items that you are tentatively pre-qualified for:
- The loan amount
- Down payment required (if applicable)
- The interest rate
- The loan program terms
Take the First Step
The bottom line is: talking to a loan officer before the home buying process can help you make one of the most important resolutions and dreams in your life come true. They will help you get a start on your home buying experience, especially this time of the year.
Our team will stay on top of things and keep you informed during the pre-qualification process.
Find a lender near you to learn more!