Whether you’re ready for homeownership or still exploring the idea, we can help you along your home buying journey.
At Members First, we’re here to help you navigate the home buying landscape and make decisions that work for your unique situation. If you’re considering a first-time home purchase, these suggestions are provided to give you a starting point. We’re here to help pull it all together.
Do Your Homework
This article will help you understand the many factors to consider before and during your home buying journey, from getting your finances together to making an offer and closing.
Realtor.com not only lists homes for sale, but offers helpful advice especially for first time home buyers.
Find the Right Financing
Having a conversation with an experienced mortgage representative is often the best place to start when exploring mortgage programs. Members First offers many options in home financing from fixed and adjustable rate mortgages to no closing costs and no down payment programs. With the advice of our experienced loan originators, we can help find the right fit for you as a first time home buyer.
If you’re rate shopping, keep in mind that mortgage rates can change daily, so check back often for the latest.
Estimate your monthly payment or loan amount with our enhanced loan calculator. After entering your information, see how different loan terms and interest rates can impact your payment.
Check Your Budget
Although a lender has qualified you for home financing, you may wish to keep up with spending on travel or entertainment, or have plans to start a family and reduce your work hours. Our home budget analysis can help you calculate your net income and all your expenses, including your projected mortgage payment. This will help you determine whether you will need - or are willing - to sacrifice or alter any spending or future plans for the sake of home ownership.
Many sellers won’t consider an offer unless they’re assured the buyer can get financing. Getting pre-approved before you dive into listings puts sellers at ease and gives you the freedom and confidence to get the best home for your budget.
This is an exciting time in your life’s journey! We want to make sure the home buying process is an enjoyable one for you. If you have any questions along the way, don’t hesitate to contact us.