The third step in our Home Buying 101 process is finding a mortgage lender. (Yes, we realized we’re a mortgage lender, but we promise we’re simply here to educate!)

A few words of advice:

  1. Find a reputable lender who’s responsive and offers a quick turnaround. Be sure to ask them about rates, loan terms, down payment requirements, property insurance, closing costs, and all other fees. Compare these on every offer you get.
    • Ask each of them about:
      • rates
      • loan terms
      • down payment requirements
      • property insurance
      • closing cost
      • fees of all kinds
      • how long they expect the process to take
  2. Be sure to get pre-approved before you start looking for your new home. You don’t want to waste time looking for homes that might be out of your price range — and you want to be taken seriously by potential sellers by having your pre-approval letter in hand. Especially in our current market, this can be a big deal on which offer they choose.  

 

The housing market is exceedingly difficult to navigate. So for now, just take things in stride. Remember that you are where you are right now for a reason, and pray for the wisdom to know where God is leading you in the future!