Two ways to stay on track when buying a home
Starting to think about buying a new home can feel a little intimidating, especially if you’ve never done it before.
But it doesn’t have to be this way.
We believe that getting ready to buy a home is part of a well-defined process.
And the good news is that processes are repeatable, especially when you have good guidance.
Here are two tips for staying on track when buying a home:
Tip #1: Don’t Get Discouraged by Things You Can’t Control
There are things you can control and things you can’t control in life.
When it comes to buying a home, things that are beyond your control include interest rates, insurance rates, and market conditions (to name a few).
These things are always in a state of change. Interest rates go up. They go down.
Insurance premiums change based on how many providers are currently writing insurance in the area where you’re looking to buy.
Housing market conditions are always shifting.
Trying to anticipate how these factors may change, especially when they’re beyond your control, can feel a bit overwhelming, even for seasoned home-buying professionals.
Tip 2: Focus on the Fundamentals
Don’t let outside factors or concerns over market conditions prevent you from moving forward with purchasing a home.
After all, it’s your life and you know when the timing is right for you to make those important decisions about home ownership!
Our suggestions for making the journey to homeownership as smooth as possible include:
#1 - Learn About the Process
Taking time to study and understand each step in the process of buying a home and becoming familiar with the terminology may help you feel empowered not only now, but for the rest of your life.
#2 - Find a Loan Officer Sooner Rather Than Later
Sometimes home buyers delay talking to a lender because they think they need to find a home or have saved for a large down payment before contacting a lender.
We recommend talking to a lender at once!
Finding a lender early in the process gives you the opportunity to get a good understanding of all your potential loan options. Instead of having to think through all the “what-ifs” on your own, our loan officers will listen to your needs and help you choose the right loan program for your needs.
#3 - Get Pre-Qualified Before You Shop
It’s always a good idea to get pre-qualified for a home loan before you go shopping.
Our lenders will strive to help you identify any potential areas you need to work on before buying a home such as saving money for a down payment or escrows or even looking for a home in certain areas where the insurance rates match your family's needs.
Whatever your scenario, getting pre-qualified before you start looking at homes is one of the best ways to get started.
With mortgage lenders across the Gulf Coast, we’ve got someone near you. Click here to find a helpful mortgage lender near you to start the process today and help you work towards achieving your dreams of home ownership!