Home Mortgage Blog
Where Do I Begin? Taking the First Steps Toward Home Ownership
They say that the first step is always the hardest, and that can definitely be true when it comes to buying your first home. Many a first-time homebuyer knows that it makes more sense for them to buy than it does to rent but are not sure where to begin.
It is understandable that purchasing a home may seem daunting but you shouldn’t let intimidation get the best of you. You don’t need to know the finer details of the process to get started, and once you begin you will have experts to guide you. If you are considering becoming a homeowner, here are some simple first steps to get you on your way.
Step 1: Reach Out To A Loan Officer
Unless you are buying a home with cash, the first and most important step toward becoming a homeowner is to meet with a licensed mortgage Loan Officer. A Loan Officer will serve as your guide through the financial side of the home buying process. They will help you with everything from reviewing your credit and loan options, to securing pre-approval and financing.
If you don’t already have a Loan Officer in mind, and would like to work with Marketplace Home Mortgage, you can visit the “Find A Loan Officer” page on our website. Choose a branch near you, and then browse the websites of mortgage professionals who are available to help you at that location.
Once you have found a Loan Officer you would like to work with, call or email to set up an initial appointment. During this appointment, they will help you review your current financial standing by looking at things such as your credit score and income. They can help you determine if there are any credit issues you should work on before you start your house hunt. If you are ready, your Loan Officer will work with you to determine what you can afford and help you get pre-approved.
Step 2: Select A Realtor®
Once you have found and met with a Loan Officer, the next step is to find a licensed REALTOR® that you trust. Your Loan Officer may be able to recommend an agent that their past clients have worked with, or you may have friends and family who have referrals from within their sphere. There is also an abundance of sites that can help you find an agent.
Just like with a Loan Officer you can browse their website, read reviews and meet with them to determine if they are someone you would like to work with.
Step 3: Find Your Dream Home
Once you have your home buying team in place you can start in on the adventure of choosing a home. Your Realtor® will help you find the perfect home and navigate the purchase process, while your Loan Officer helps with the remaining steps required to secure financing and make the purchase.
Although the home buying process may seem daunting, with the right team in place, you will have experienced professionals there to guide you through every step as a first-time homebuyer. The only one you have to take on your own is the first.
Give a Marketplace Home Mortgage Loan Officer a call and get started today.