Once you’ve decided you’re ready to proceed with your purchase and have met with your Loan Officer to review the process, YOU’RE READY TO GET STARTED! Here is an overview of some tips to consider:
There’s a big difference between a buyer being pre-qualified and a buyer who has a pre-approved mortgage. Getting pre-approved means a lender has looked at all of your financial information and they’ve let you know how much you can afford and how much they will lend you. Being pre-approved will save you a lot of time and energy
so you are not running around looking at houses you can’t afford.
Keep up with your credit
It’s not wise to make any huge purchases or move your money around three to six months before buying a new home. You don’t want to take any big chances with your credit profile.
Stalk the neighborhood
Before you buy, get the lay of the land. Find out how far it is to the nearest grocery store and other services. Even if you don’t have kids, research the schools because it affects the value of your home in a very big way.
Give your house a physical
Would you buy a car without checking under the hood? Of course you wouldn’t. Work with your Real Estate Agent and a home inspector to provide you with information so that you can make a decision as to whether or not to buy a specific home.
BONUS TIP! Understanding money due at closing
Closing costs are fees and expenses you pay when you close on your house, beyond the down payment. These costs can run 3 to 5 percent of the loan amount and typically include loan origination fees, title insurance, attorney fees, appraisals, taxes and more.
Ready to find your perfect mortgage?
Our pre-approval process is quick, hassle-free, and is the first step to understanding what kind of mortgage is right for you. Start your mortgage journey today. Contact us!