Freedom from Financing Fear!

FREEDOM FROM FINANCING FEAR!    By Donna Baker

If you’re planning the purchase of your first home, you’re probably experiencing two conflicting emotions – excitement and apprehension.  The positive energy from your excitement is an asset in your home search, but the negative energy from your fear of the unknown is a liability you can leave behind once you’re armed with some basic information.

Paramount to buying your first home is understanding how much you can afford.  You can start with any number of online financial calculators, and once you’ve established a budgetary picture, take the all-important next step – get pre-qualified with a lender.

Pre-qualification may sound intimidating, but it’s a great way to find your “comfort zone” and build your purchasing confidence.  When a lender interviews you and reviews your financial documentation, you’ll know right now how much home you can afford.  Be sure to consider, however, that what you qualify for and what you’re comfortable paying for a mortgage may be two different things.  A lender could tell you that your income qualifies you for an $800,000 house, but you may not be comfortable making the payments associated with that kind of purchase.  Ask the right questions!

Once you know that magic number, you can easily weed out homes above your budget, which will save you loads of time (and disappointment) during your home search.  Then once you’ve found a home you love, you can rest assured that your offer will be taken very seriously, because your financing has already been conditionally backed by your lender.

I am happy to help you get started! I can connect you with some excellent lenders who will walk you through the process and get you on the track to purchasing a home within your budget.

After that, the next step is the fun part…. brainstorming your dreams with a local, experienced agent who can help you take those first steps toward ownership.  I would love to hear from you.

Could this be your new first-home kitchen? It all starts with taking the steps to find out about financing.