Starting the home buying process in the next 6-12 months? Here’s what you need to do NOW.

If you plan to buy a home within the next 6-12 months, there are important steps you must take right away. A reputable local lender should be one of the first people you contact.

It’s important to understand that the lender plays five main roles when buying a home.

•  They can tell you the maximum price you can afford based on your income and credit score. To avoid falling in love with a home that’s beyond your budget, it’s best to search for properties that cost less than the maximum you’re approved for.

When looking for homes, remember to stay within your budget to avoid disappointment.

•  If you’re unsure whether your credit score is high enough to qualify for a home loan, the lender can help. They can provide you with specific tips based on your personal finances to improve your score quickly. It’s a great idea to reach out to a lender six to twelve months before buying a home so you can prepare if needed.
•  Different types of mortgages serve specific purposes. A lender can help you determine which loan type is best for you. They can also give you an idea of the down payment you’ll need, which can vary between no money down and 20% or more.
•  A lender can offer a rough estimate of what your monthly mortgage payment will be. This will help you analyze your budget and determine if buying a home is feasible for you.
•  Finally, the lender can provide you with an estimate of the amount you may be responsible for paying at the closing table.

Let me know if you need a lender recommendation to get you pre-approved today!