Removing Roadblocks to Home Ownership – I Don’t Even Know Where to Start

Filed under: Home Buying Tips

Today’s topic is a continuation in our series of “Removing Roadblocks to Home Ownership,” helping you figure out where to start when you are ready to purchase a home. I get how confusing it can be when you want to buy a home and haven’t been through this process yet so you don’t know what to expect.

Falling in Love with a Home You Can’t Buy

Often, the first thing someone does is fall in love with a house. While you love the idea of sharing this beautiful home with your family, you won’t fall in love with the debt it takes to buy the home. But there’s no question that the first step should be focused on getting the mortgage piece squared away.

I see it all the time: people come to me after shopping around online and using online mortgage calculators. These calculations are painfully inaccurate because they don’t figure in HOA dues, taxes, and other things that impact the monthly payment. People come to me after using these DIY calculators with a certain purchase price in mind, only to be disappointed when they find the price needs to be adjusted to fit into their approved budget.

Meet with A Mortgage Pro First

The most important thing you can do when you are ready to buy a home is to meet with your mortgage professional first. This step should happen before you start looking at homes. You need to understand your buying power. Together, we can look at your financial situation, analyze your credit, analyze your income, and figure out the financing option that works. We’ll dial in a reasonable budget to ensure that you will be comfortable with the payment after buying the home.

Don’t get it backward! Come to the mortgage person first, then fall in love with a house that fits that budget. Doing it backward causes frustration for everyone involved. Sometimes it could even discourage people from moving forward with a home purchase.

I’m here to help if you are thinking about buying a home. Reach out any time so that I can assist you in finding the right financing options to meet your needs.

Franklin Loan Center | NMLS 237653
Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, 4131316
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