Getting Started Mortage Home Buying Home Loans

Written by Brittani Thurlow

They say that the early bird gets the worm and this is true when preparing to buy a home. Getting started early can give you the advantage of a potentially lower rate, faster and easier home purchasing process, and the flexibility to buy where and when you want.

To get ready to buy a new home this year, be prepared and start by saving money. When it comes to buying a house, the more money you can put down on the purchase price, the less your mortgage loan will cost. Traditionally, a down payment should equate to 20% of the purchase price, but it is true that many mortgage options offer as low as 3% down. In addition to your down payment, there may be additional costs when buying.  Some of these may include a general inspection, closing costs, and mortgage insurance.

Knowing what you want in a home is an essential part of getting ahead. Make a list that incorporates everything you would like in a home. Consider the location, schools, floor plan, yard, and even the age of a home. Do your research and set realistic goals you hope to achieve in buying your new home.

Possibly the most IMPORTANT step when buying a home; GET PRE-APPROVED! When looking for a home, the temptation to fall in love with a house outside of your budget is very real. Before you start shopping around, it’s important to know what your budget is, what you are comfortable with paying for your monthly mortgage, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to achieve this. A pre-approval provides you with the confidence and freedom to put an offer on a home when you are ready.

In addition to the pre-approval letter, you can find confidence in buying by working with a trusted agent. When you are ready to move on from browsing the internet, or should I say window shopping, get with a trusted agent to find you the right home and place you on the path to home ownership. Agents are experts in their area, which means they have the experience and relationships to guide you during your home buying journey. They have access to communication tools and home buying marketplaces that are not offered to those outside of their profession, unless of course you are working with an agent. They also understand the complex transactions and paperwork associated with buying a home. With their motivation and expertise, you should be able to soar your way to “get the worm”.

In a competitive market like the one we are in; it is essential that you are prepared. Now is the time to get started. Spread your wings and prepare for your home buying journey earlier rather than late. You deserve the worm!

To get started on your homebuying journey, to get pre-approved, or for more information about mortgage loans, please reach out to us in our live chat, or email us at

*This is not an advertisement to extend consumer credit.  All loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice.  Not all products are available in all states or for all loan amounts.  Other restrictions do apply.  Please advise with your tax accountant, attorney for financial advice on information provided. Goldwater Bank is not a law firm, tax or financial planning organization. We do not provide legal, tax, or financial planning advise. Goldwater Bank, N.A. NMLS# 452955.

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