Getting ready to buy a home
Buying a home is more than finding a pretty house that you
like. It is one of the most important decisions that you will
ever make. There are quite a few things that go in to successfully
buying a home.
The first is to review your finances. The worst decision
people make is to not consult their financial ability and
then begin searching out of their price range. This only leads
to disappointment either in the sense of finding a home you
can’t afford and having to settle for something less
than ideal or purchasing a home that you will ultimately have
to give up because the payments exceed your financial resources.
The first step in buying a home should be to initially conduct
a review of your finances.
A general rule for determining the type of home you can afford
is to spend no more than 30 percent of your gross income each
month on your mortgage and the subsequent taxes and insurance.
Pre-applications are also helpful in determining your affordability.
It may also help in negotiations down the road.
Once you determine what you can pay for a home, you should
start looking. We suggest using a real estate professional
to help you navigate the ins and outs of buying a home and
the bidding process. Their expertise will come in handy when
searching for houses in your area, filling out the paperwork,
negotiating the sale and knowing what to look for in a home
and what can be a problem.
The next step is to begin the financing process. This is
where National City Mortgage comes in. Our team of professionals
will help you choose the right mortgage for your needs and
let you know what information you will need for the application
process. Our team will work with you from application to response
and every step in between. We are not satisfied until you
have the financing you need and have closed on the house of
which you so magically treasured.