Homeownership is a big deal and it’s one of the most thrilling moments in your life until you have the keys to your first home, or your dream home. Here are some important things to do and think about as you launch your home purchasing process.

It helps if you and your partner) have already settled on some criteria for your home before you start searching for and negotiating with an agent. Do you want an attached garage, for instance, or one off to the side? It is important for you to decide on “must have” and “good to have When looking for your house, this will save you time and hassle. Also don’t forget to study your ideal areas/neighborhoods. Access to entertainment, dining, colleges, and time to drive are some things to keep in mind.

Doing nothing is critical. Let’s say that you have put your down payment aside and have found the house you want and are ready to make an offer. You’ll need to do nothing in order to make this dream a reality. Weird, huh? We mean this, kidding aside. It’s important not to move jobs, make any major purchases, or apply for other new lines of credit before you close. If you do all of those stuff, some severe headaches during closing can be induced. It could postpone your closure and even cause your mortgage to be rejected in the worst-case scenarios.

In the home buying process, pre-qualification is the first stage and is less formal than pre-approval. You will easily find out how much housing you can actually afford with pre-qualification. Since we deliver a number of loan programs with different conditions, getting pre-qualified with Guardian Mortgage gives more confidence and purchasing power to customers. In addition, most of our programs offer a 90-day “Lock and Shop” that locks your pre-qualified rate for 90 days as you explore that perfect new home.

Is 2020 the year you purchase a home? We definitely hope so. It’s a moment in life that is monumental and one that our workers are always able to help make possible. We hope you can keep our suggestions in mind if you’re ready to buy a home. This will mean a much smoother phase of closing, moving you faster into your new home.

Also, you could apply for it’s crucial to decide the type of mortgage you want. A real estate agent will assist you in finding loans and lenders that suit your objectives and current financial condition. So now is a good time to get friends and colleagues to make suggestions.

Instead of the standard 30-year mortgage, those who want to pay off their loans early and get a lower interest rate can opt for a 15-year mortgage. A shorter term means higher monthly payments, but a lower cost of credit overall.

For a longer loan, homebuyers on a fixed budget will be better off, as they can still make additional contributions against their principal (at their discretion) without the need of higher monthly payments. So they will avoid making extra payments if someone loses their job or an emergency happens (until they can afford to later).