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3 Musts Before House Hunting

Are you dreaming of a new home? Before you secure a real estate agent and start attending open houses, consider these tips. Pausing to create a plan will ensure a smooth journey through the home shopping and buying process.

1. Schedule an appointment with a Friendship mortgage lender.
Friendship State Bank lenders specialize in helping you review your overall financial picture. These experienced lenders look at all factors that play into financing pre-qualification and your overall long-term financial health
and goals.

Pre-qualification refers to a letter that indicates how much a lender is willing to lend you based on certain assumptions. Pre-qualification can help make the home buying process easier, provide a better understanding of what you can afford, and help you know what to expect along the way.

2. Determine your ideal monthly house payment.
Just because you pre-qualified for a certain loan amount doesn’t mean you have to spend it. Create a buying budget that works for your lifestyle.

Do you love to travel for vacation? Will this monthly mortgage payment allow you to continue traveling without straining your finances? Will you have funds available for emergency and retirement savings?

3. Create a plan on how you will stick to your budget.
The home buying process is an adventure and can provide an adrenaline rush. This can lead to impulsive decisions if expectations have not been clearly set. Limit the temptation to rush a decision by making a list of your non-negotiables, high priorities, and the amount of work you are willing to do on the purchase. Having a plan will help you find a home just right for you and your wallet.

Ready to begin? Give us a call at 812-667-5101 or come in to one of our eight locations. Schedule a time to meet with one of our loans officers who would love to help as you begin the journey.