Getting Ready for a Mortgage
Monday, April 3, 2017
Buying a home can be exciting. You're busy dreaming of backyard barbecues, playing with your kids in the front yard, and fun-filled nights entertaining your friends. But before you can get down to the fun of being a homeowner, you need to choose a mortgage that works for you. Here's how.
Make a Budget
Be sure you're counting all your existing bills, including your credit cards payments. If you're not sure where to start, try using our balance your checkbook calculator to get a full picture of all your financial obligations. Once you understand what all your current obligations are, you can use our mortgage payment calculator to estimate how much your monthly mortgage payments will be.
Learn about Different Loan Types
Mortgages come in all shapes and sizes. You can get mortgages for your first home or an investment home, there are mortgages that last 7, 10, 15, 25, or 30 years and there are fixed rate and adjustable rate mortgages. Each type comes with its own set of pros and cons and you'll need to understand what type is best for you. Take a look at our mortgage rates for each type of mortgage and then come by a branch and talk to a loan officer about your options.
Get Some Guidance
If you're still not sure how much you can afford or what the best loan option is for you? Feel free to stop by one of our branches and talk to a loan officer or schedule an appointment for a financial guidance session.