Whether it is your first time or your third time, buying a home can seem daunting, nerve-wracking, and thrilling, all at the same time. It is good for home buyers to be well-prepared and knowledgeable on the whole process. We compiled 4 tips for homebuyers from trusted, local mortgage originators to help make your home buying journey go more smoothly.
Having the right team of professionals can make the home buying process a success. Surround yourself with an experienced mortgage officer, home inspector, realtor, attorney, appraiser, and insurance agent. Create a power team to lean on to ask questions and to help you feel confident.
For first time home buyers, put 6 months of your desired mortgage payment into a savings account. This is a good test to see if you will be able to afford your home and you will be saving money for your down payment! Prepare yourself in advance.
Be sure to get pre-qualified for a mortgage 3 to 4 months before you start looking for your home. This will help you know what you can afford and to be ready to put an offer down with confidence having your pre-approval.
Finding the right mortgage is just as important as finding the right home. Be sure to do your research on both! There are many different programs that could be the right fit for you. Credit unions usually have the best deal because they are looking out for their member’s best interest. Ask your mortgage originator to explain all of your options.
Don’t let buying a home be daunting! Build a trust worthy team, start saving money, do your research, and do not be afraid to ask questions. Mid-Hudson Valley Federal Credit Union’s Mortgage Originator Team has over 50 years of combined expertise in the mortgage industry. Let them help guide you through the home buying process.