Here's what to do now to make the home-buying process easier

You’ve decided to start looking for a new home. That’s a big life decision which means you may be feeling both excited and overwhelmed. To help put your mind at ease, we’ve put together a list of some of the things you can start working on right now to help make the home buying process easier for you and your family so you can spend more time focusing on finding the house of your dreams.

Find a Mortgage Lender

Find a mortgage lender who listens to you and understands your needs. While interest rates are an essential factor, it’s also beneficial to work with a trusted, professional and experienced lender who will look out for your best interests and help you avoid unnecessary fees. We have a great mortgage team here at Marine Bank that’s happy to guide you through the process and answer all of your questions.

Ask Questions

Escrow, Private Mortgage Insurance, amortization, earnest money, etc…It’s easy to get caught up in the jargon of the real estate world. If you don’t understand the terms that your mortgage lender, realtor, inspector or anyone else is using, ask them to explain it to you. Everyone has to start somewhere in the real estate market; don’t be ashamed to admit that you don’t know everything.

Get Pre-qualified

Once you find the right mortgage lender for you, they will begin the pre-qualification process so you can know exactly how much home you can afford. By supplying your loan officer with some financial information, they will review it and tell you exactly how much they can lend you. This will give you an idea of the homes you should be looking at based on a specific price range. It doesn’t make much sense to look at a house in the $150k-$175k price range if you can only afford a house in the $125k price range.

Take it Easy on Your Credit Score

Your credit score is a big part of the home buying process. Don’t make any purchases that will affect your score negatively. While looking for a home, you may also be in the market for new furniture or other large purchases, but wait until after you’ve purchased your home to get those items. Your credit score evaluates your ability to responsibly handle debt, so if your score is lowered, it will affect the amount of your loan.

Make a Priority List

What are the features in a home that are non-negotiable for you? What about the features that you would like, but don’t require? Make a list of priority features in a home. If you need multiple bathrooms, a garage and a basement, you’ve eliminated a large portion of homes that wouldn’t make the cut, which saves you some valuable time.

You may qualify for up to $6,000 in down payment and closing cost assistance

It's a great time to buy because right now, qualified buyers can get up to $6,000 in down payment and closing cost assistance through the Down Payment Plus grant. Learn more to see if you qualify for the Down Payment Plus grant!

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