Buying a home can be overwhelming. The experienced mortgage loan officers at Premium Mortgage Corporation, with offices in Buffalo, NY; Rochester, NY; Syracuse, NY; and Barre, VT give tips to be informed buyer before purchasing your dream home.
Keep the following suggestions in mind as you start your search:
- Establish a Budget: Based on your income and other factors, find out how much house you can afford. Premium Mortgage Corporation will gladly take you through the pre-approval and/or pre-qualification process(es) to determine your budget.
- Check Your Credit History: Lenders will use your credit score, which is a three-digit figure that determines your payment history, to figure out the best loan rates. You can get a free credit report once a year from the credit reporting bureaus of Equifax, Experian and TransUnion.
- Save For a Down Payment: Once you know how much house you can afford, start saving for a down payment. Depending on the loan program you choose, the down payment could be between 0% - 20% down.
- Search Diligently: Be sure look at all factors affecting the home such as good school districts and vibrant local economies.
- Make a Good Offer: Look at homes that recently sold in the neighborhood to get an idea of what you might want to bid. Make your offer quickly as desired homes tend to get many bids.
The home buying process doesn’t have to be a maze of confusion. The experts at Premium Mortgage Corporation specialize in getting you the right mortgage for your budget. If you’re a current homeowner, you can also rely on the team for refinancing.
To get started, call Premium Mortgage Corporation today at (877) 690-7240. The company is licensed in New York, Vermont, and Florida. Visit the website to learn more about the array of different loan programs customized for your unique financial situation.
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2541 Monroe Avenue, Rochester, NY 14618
Equal Housing Lender
Licensed Mortgage Banker NYSDFS