Home Buying Center

Think Long Term

When buying a home, think of it as a long term decision. If you can not commit to staying in one place for at least a few years, then buying a home is probably not for you just yet. You may end up losing money through the transaction cost of buying or selling a home.

Get Your Credit in Line

As you will most likely need a mortgage to buy your home, it is important to make sure your credit history is in line. A few months before you begin house hunting, get copies of your credit report. This will help you review your reported credit lines are correct and give you time to fix any problems you may discover.

Buy a House for Your Budget

Don’t buy more house than you really need. When thinking about your budget, a good rule of thumb is to buy a house that is valued about two-and-one-half times your annual salary. It is also recommended to make sure your monthly payment is no more than 25% of your monthly take home pay. Click here to use our mortgage calculator to help you figure out how much house you can afford. When figuring out what your monthly payment should be, keep in mind other factors including car payments, other debts, and saving for retirement.

Get Pre-Approved

Getting pre-approved will help you when hunting for a home. It will help keep you from looking at houses that are out of your budget while putting you in a better position to make a serious offer when you find the right house for you. Click here to complete a loan application and get pre-approved.