This post was sponsored, and paid for, by SunTrust. All opinions are my own.
I just put our first home on the market but I still remember being a first time home buyer! I do admit I am a bit scared of going through the homeownership process again but excited at the same time. I’m hoping it’s just as exciting as the first time. Well, in some ways because I must admit the entire mortgage process is not a walk in the park.
I remember Shawn and I started looking for a bigger place to rent. WOW, the prices were crazy, so we decided to go out on a limb and start looking for something to buy. Well, everything worked out rather quickly, and we were super excited up until we have begun the mortgage process.
Here are a few things that I learned when buying my first home that might help reduce some of your stress.
Find a trusted mortgage lender
Buying a home can be a daunting task, and it’s important that you have a trusted mortgage lender there to help you along the way. I was lucky when we purchased our first home, I worked at the bank, so I knew the personal handling my mortgage. It defiantly made things easier. However, it was still time-consuming, and I’m not sure how well things would have gone without a trusted mortgage lender like SunTrust Bank.
Get preapprove for a loan
Be sure to get pre-approved for your home loan. Your trusted lender should be able to help you do this. Getting a pre-approval will help you better understand how much you are able to borrow from the lender.
Get a good real estate agent
It’s important to find yourself a good real estate agent can prove to be an asset when you are shopping for your new home. You can find one by asking family and friends if they know anyone you can trust.
It’s easy to go crazy but it’s important to prioritize the things you need and the things you want so you can stay within your budget. Create a list of the things you need and the things you want and of course perks – schools in the area, neighborhood, etc.
Be open-minded and flexible
You might find your not able to get all the extras that you had hoped for. Just remember to keep an open mind and stay flexible because the beauty of homeownership is you can remodel and add all the extras as you are able.
Get back to your trusted lender asap
If you miss a phone call from your trusted lender be sure to get back to them as quickly as possible. You may find that they need additional documents or something, the quicker you are to get them everything they need the better they can do their job and get your loan approved.
The mortgage process doesn’t have to be painful if you have a trusted lender working with you. Trust me, you want a trusted lender because it’s nothing like getting an auto loan.
The SunTrust onUp movement is about having the confidence to move forward one smart step at a time. We all know that owning a home is one of the largest financial mile’s stones which can be scary but with understanding, we can feel confident in our choice of homeownership. SunTrust Mortgage has a team of experts that are committed to helping future homeowners find a mortgage that fits your lifestyle. They have great resources and tools to help tell borrowers who wish to become homeowners or are considering homeownership.
Learn more or Check out their resources by visiting https://www.suntrust.com
Do you have any tips for first time home buyers that you would like to share?
At SunTrust Mortgage, we make it a priority to learn all about your unique circumstances. Confidence starts with a conversation.