You did it! Congratulations, you’ve found your perfect dream home! The home buying process can be an overwhelming experiencing if you’re not equipped with the right information. Purchasing a new home is a serious investment. We’ve put together a list financial tips to help you experience the pride of homeownership. Now let’s make it to closing!
DON’T assume that you’re able to buy a home because you have enough for the initial down payment. You’re bound to run into more than a few pre-buying expenses related to purchasing your home. Being prepared for these costs when investing in a house is sure to make your home loan process much easier.
DO get pre-approved! Getting pre-approved by a home lender allows you to know exactly how much you can afford when buying your new house. Visit Gemcraft Homes financing page today to get pre-approved by our trusted preferred lenders. When working with our mortgage professionals, they’ll help you determine the monthly payment you feel comfortable with. Having a better understanding of what you can and cannot afford will be most helpful when choosing your dream home.
DON’T make any major purchases before closing! Often, right before closing, your lender will recheck your credit. Any large or extravagant purchases that add to your debt may lead them to back out. Even if you have less than perfect credit Gemcraft Homes can put you in touch with financial professionals to get you back on track and into that house!
DO stay responsive. Expect to hear often from your sales team and home financing advisor. They’ll keep you up to date on the entire process. You’ll be required to submit plenty of documents so maintain an open line of communication with your team and deliver anything they might need in a timely fashion.
DON’T make any major changes! Lenders look for consistency and stability when pre-approving homebuyers for their dream home. Any changes could result in needing a new loan approval or even denial.
Get pre-approved for one of our quick move-ins today!