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Buying a home can seem like an overwhelming task.  There are just so many things to think about from money, to finding the right home, to moving stresses, and everything in between.  When it comes to breaking all of these tasks out into a step by step process, most people don’t know where to start.  This is why we have taken the time to give you four easy steps that can help you get started with the home buying process.  These steps can help you ease into the process without feeling like you are trying to take on everything at once.  Even if you are still in the planning phases, or just wanting to see if buying a home is a possibility, these simple tasks can surely help you move forward.

First, get preapproved for your mortgage. 
One of our qualified loan officers would be happy to assist you with a preapproval.  A preapproval involves taking a look at your income and your debts and then giving you an estimation of the loan amount you can qualify for to purchase a home.  This will give you an idea of what price range you should be looking at for your home search.

Second, do a budget breakdown.
There are a lot of expenses that can come with purchasing a new home.  Once you know the estimated monthly payment for your home, you can take a look at what your total debt will be and decide if that loan amount is right, or if you should try for something a little less expensive.  Potential expenses to consider when breaking down your budget include all existing debts: car payments, student loans, etc.  You should also include expenses that can come with a new home: electrical, water, and gas bills, new appliances and furniture, etc.  Breaking out all of these expenses and potential expenses can be overwhelming, but it is extremely important to help ensure that you are looking for a home that isn’t going to be more than you can afford.

Third, start saving yesterday.
It is never too early to start saving for a home and you can never save too much.  Having money put aside for your home purchase can really give you peace of mind as you go through the process.  These savings can help with a down payment and closing costs, as well as any unexpected expenses that can come after you have purchased your new home.  Designating a certain amount to put aside each month for savings and trying to cut out any unnecessary spending are just couple of things you can do to help you save.  You can even set up direct deposit to automatically split out your savings from your regular earnings so that you won’t forget.

Fourth, create a list of needs versus wants. 
Take some time to create a list of what you need in a home, versus what you want in a home.  This will help your realtor prioritize what they should be looking for when trying to find the home that is right for you and your particular situation.  Some items to consider include:  How many bedrooms do we need?  Where is our ideal location? What features are most important to us?  Asking these questions ahead of time can really simplify the search process and ensure that you find the right home sooner than later.

If you are thinking about buying a new home, please feel free to contact any of our qualified loan officers.  We would be happy to talk with you and get you started in this process.  Even if you are unsure, talking with one of our mortgage professionals can give you an idea of what options you have and what opportunities may come in the future.