Are You Ready to Purchase Your First Home?

 In Loan

Do you dream of owning a home? For most people, the answer is a whole-hearted “You bet!” Paying rent can feel like you’re bankrolling someone else’s dream — your landlord’s. Paying a mortgage on your house means you’re investing in your future.

Still, it takes more than a desire to buy a place. The timing has to be right. You need to be ready to settle down. You need to be realistic about what you can afford. But, the hunt for the right house is fun and exciting. Each step, from looking at those first properties to getting approved for a loan gets you closer to your goal

Take a look at the process of getting a home loan:

You’re Putting Down Roots

Buying makes sense if you’ll be staying in the home for at least five years. If you know you’ll be moving in a year or two, it’s generally better to rent. Even if a monthly mortgage payment is similar to your rent, there are other costs associated with buying a home. Over the long term, the expenses are spread out, so they make sense. If you plan on staying in the area for years and have a secure income, home ownership is a good option for you.

You’re Pre-Approved

With rare exceptions, everyone needs financing to purchase a home. In most cases, home buyers will make a down payment. However, don’t let a lack of savings keep you from starting the process. You can buy a home with little or even no down payment.

Before you start looking for a home, speak with a mortgage professional. Pre-approval means you can shop with confidence. You’ll know you what you can afford. Sellers and realtors will know you’re serious about buying.

Make an appointment to speak with me. Together we’ll go over the steps for pre-approval for a mortgage loan.

Your Time Frame Is Sensible and Flexible

Choose a time when you can accept the best offer that comes your way, understanding that you may have to be flexible if the market changes. Realistic expectations are the key to a happy outcome. You may be able to complete the process in a month, but in most cases it takes more time. Give yourself time and be ready to act when you find the house you want.

You Have Money Saved

Moving is expensive. You’ll need to plan for incidental expenses associated with relocating. Once you’re in your home, be sure to plan for  upkeep. All those things that a landlord takes care of, from repairs to maintenance, will be your responsibility. Make a list of everything you’ll need to account for, from sewer bills to lawn care.

Part of the fun of owning a home, though, is making it your own. Working on your house can provide you hours of enjoyment. When you pour money and love into your home, you’ll have the pride of seeing it transformed into the place you’ve always wanted.

Get Started on Your Dream

I can make your mortgage process simple. You’ll need to do your part, too. Working through the paperwork and credit checks takes time, but it’s not difficult. I’m here to help you get the best mortgage for your circumstances, and I’m committed to being available for my clients. Call me with your questions and concerns. I’ll make sure you understand each step of the loan process.

Contact me today!

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