Buying a first home is exciting, but it can present plenty of challenges. We’re here to help you get safely through the gauntlet of what we call the three P’s of home buying: process, practicality and paperwork. To make it easier, we’ve compiled a checklist of how to prepare financially so you can live the home ownership dream.
Get your financial house in order
Figure out how much home you can afford
In a competitive real estate market, particularly at the first-time buyer price point, you’ll want to prove to home sellers you’re a real buyer and that the bank says you’re good for a specific amount. To get started, a bank will require:
Determine the right loan for you
Loans vary, but your loan officer can help you wade through all the options, including:
They can help you ensure your VA loan eligibility, and walk you through the VA loan process.
Find your home
Once you’ve been approved for a mortgage loan you can start exploring options in the market you’re interested in most. When examining homes, it’s easy to let yourself fall in love with a place that may be at the higher end of your budget. Try to keep your heart out of it and let your head lead the way as you make what’s likely one of the largest purchase decisions of your life. Whether you’re just dreaming about buying rather than renting, or ready to take the first steps towards homeownership, a clear understanding of what you can afford and how to get the home you want is vital in reaching your goals – and we’re here to help anytime.
We'll find a branch near you. You can also visit the locations page or contact us.
Simplify the payment process by having your card sales deposited into your business checking account.
As a community-supported bank and locally operated business, we are proud to offer flexible and rewarding banking options to local businesses.
No matter what stage of the wealth cycle you’re in, we can help you plan ahead and think forward.
Follow Columbia Bank