- August 9, 2018
- Posted by: Evelyn
- Category: News
Choosing a new home is an exciting time for anyone, and it’s especially thrilling for first-time home buyers. Once you’ve decided to buy a house, you may be wondering where to start. Asking the right questions and doing research will help you feel more confident and informed throughout the home buying process. As you begin searching for your dream home, take some time to ask yourself these essential questions.
Is your financial house in order?
Before you start looking for potential homes, it’s wise to get your financial house in order to demonstrate to lenders that you can responsibly manage your money. While you don’t need to have perfect credit to qualify for a mortgage loan, it’s always a good idea to work on raising your credit score to improve your likelihood of getting approved. Be sure to check your credit reports for mistakes or inaccuracies and avoid taking on new debt before applying for a mortgage, which will affect your credit.
Do you have a budget?
Buying a home is a significant financial commitment. When searching for a home, it’s important to know how much you can afford. Getting pre-approved from a trusted mortgage lender will ensure you know how much you can afford for a down payment and monthly mortgage payments. With a clear understanding of your home buying budget, you can demonstrate to realtors or sellers that you’re a serious buyer.
What type of home do you want? How much space do you need?
Before you start house shopping, take some time to identify what you want in your future home. Will you require a certain number of rooms to accommodate a growing family? Do you need a large backyard? Do you want an attached or detached garage? Making a list of all the things you want and need in your home before going house hunting will help you narrow your options and find the house that’s right for you and your family.
Where do you want to live?
Location is another important factor because it has a significant impact on a home’s future value. As you evaluate your choices, consider where the home is located in respect to your job, children’s schools, shopping centers, parks and entertainment options. Knowing what to look for in a neighborhood will help you find a home in a location that matches your lifestyle.
What type of mortgage loan is right for you?
Mortgage loans aren’t one-size-fits-all, and determining the best mortgage option for your financial situation isn’t always easy. Luckily, you don’t need to navigate the mortgage process alone. Whether you’re a first-time home buyer, need more space for your family, or want to downsize your current home, the mortgage experts at River City Mortgage will help you find the right financing option for your perfect home. We’ll help you through the process step by step, from pre-approval to closing, to ensure you’re comfortable and confident with your purchasing decision.
Getting pre-approved is quick and easy at River City Mortgage! Contact us to learn more and get started.