Buying a home is a stressful process. It can be especially stressful if you’ve never bought a home before and aren’t familiar with the process. So we asked our lenders to help you out! Check out what they had to say when we asked them “what advice you would give the first-time home buyer?”
“Shop around with the local lenders where you plan to buy a home as they are generally more knowledgeable of the community. By using a local lender, you will usually see they have lower closing costs compared to internet lenders.” – Adam Litzinger, NMLS #472556, Manhattan, KS
“Ask your local lender for advice. We’d hate for you to make an offer on a home, and then do something we wouldn’t recommend. For example, don’t make any purchases using credit (when you’re planning to buy a home soon). Charging credit cards up or buying a large item like a car can lower your credit score and increase your debt-to-income ratio. Ask before you buy!” – Kristen Andersen, NMLS #1725774, Gardner, KS
“Get pre-qualified by a lender very early in your buying process. This will allow you to know the price range you qualify for and what funds you will need for closing.” – Dave Johnson, NMLS #473822, Topeka, KS
“I would advise first-time homebuyers to interview 2-3 lenders and go with the lender that is up front with the costs and rates. Ask the hard questions and if the lender is local and will service the loans, that will probably save a buyer closing costs and possibly even lower rates. Also, always get a pre-qualification letter before you write a contract on a home.” –Brenda Elsasser, NMLS #478729, Omaha, NE
“I’d say sit down and figure out how much you can afford in a monthly payment before heading out to look at houses. First-time buyers often get discouraged when they look at houses before meeting with a lender to determine the price range they should try and stay within. Don’t forget to add in the cost of homeowner’s insurance and taxes in order to get a more accurate monthly payment. Also be sure to ask your lender if they offer any first-time home buyer programs that would benefit you.” – Aaron Urban, NMLS #1540322, Lawrence, KS
Are you interested in learning more about our mortgage services? Visit our website at https://centralnational.com/mortgages/ to learn more. Try out our calculators to see what you can afford! Have more questions for our lenders? Find a lender near you at https://centralnational.com/whycentral/meetus.asp#mortgagelenders.