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4 Tips Everyone Considering a Home Loan Should Know

By Azura Credit Union

There may still be a chill in the air, but the housing market is warming up in preparation for Spring. Are you ready to make a move? Whether it’s your first house buying experience, or you’re a seasoned pro, there are important steps to take before you start your searchWe asked our Mortgage team some of their tips on how you can prepare to buy a home.

Couple Considering a Home Loan

Get Familiar with the Costs

Luke, an Azura mortgage loan associate, encourages potential home buyers to learn about common home buying costs. “If you think you’re ready to buy, get familiar with some of the costs of buying first." 

Common home buying costs include:

 

Get Your Credit In Order

If you’re nervous about your credit score, talk to Azura’s Mortgage department. “We can help members get on the right path, even if they aren’t quite ready to purchase."  Haven, our Mortgage Loan Manager, explains. Adam, an Azura mortgage loan associate, agrees, "We offer coaching to borrowers that may be credit challenged in order to set them up for success in the future." So, even if you're unsure about your current credit situation, talking to a lender and making a plan can alleviate any worries you may have.

 

Start Saving

Before you start daydreaming about that in-ground pool or a giant basement theater room, figure out how much you can afford. Then, you can decide how much $$ you need to save! Still think you are six months to a year out from looking to buy? “It’s never too early to start saving for your down payment/closing costs!” advises Jodi, Azura mortgage loan associate. There are many different ways to save your down payment and thankfully, getting started is easy!

 

Get Pre-Approved Azura Mortgage Team

Okay, you’re saving money each paycheck, you’ve narrowed down your dream home's price range and your credit is in order – what’s next? If you're considering a home loan, our entire mortgage team agrees, “Get pre-approved!!” Haven added “If you’re ready to purchase a new home, definitely get pre-approved so that when you find your perfect home, you are ready to make an offer right away.” The best part about this step with Azura? You can do this online, in person or even over the phone (785-233-5556).  

  

Now that you’ve covered a few key steps to start your house hunt, do you feel ready to get pre-approved?

Download the Free "Am I ready to buy a house?" Checklist

 

Tags: Mortgage