Home buyer’s checklist simplifies the process of buying a house
Buying a house can be complex and intimidating. That’s where a home buyer’s checklist can help you navigate the process in an organized fashion, assures you are prepared and makes you feel more confident that you are getting the best home for your money.
HomeTrust Bank offers these basic guidelines for buying a house:
- Remember, this house will be a home for you and your loved ones, a place to live, to feel safe and secure. Your home buying decisions should always reflect this primary goal.
- Learn the ABCs: Your home should be affordable, built well, and comfortable.
- Figure out how much house you can afford. Your debt to income ratio will help you determine what you can buy.
- Create a budget so you know how much you can afford on a monthly basis.
- Get pre-approved for a loan. Our expert mortgage lenders will work with you so you know exactly what you can afford.
- Know your credit score; you may qualify for a lower rate with a higher score.
- Work with a real estate agent. An agent will go over the things you want and don’t want in a home, then try to match you with available homes in the area. They will also help you negotiate the price when you are ready to sign a contract.
- Be informed. Ask lots of questions of your real estate agent, your lender, banker, and others involved in the process.
- Know what you are buying; a home inspection is critical to determine what needs to be fixed or repaired prior to the sale.
- Understand the property taxes and insurance requirements.
- Choose a lender with a good reputation for stability and a passion for customer service — HomeTrust Bank is more than 90 years old and is passionate about personal, long-term relationships.
- Understand the loan you are getting. Read the fine print. There are fixed and adjustable rates for different number of years, and several different government-guaranteed loans that may work for you.
- Plan ahead for the expense, time and work of maintaining a home.