If you’re considering buying your first home you probably know the process isn’t as simple as, well, most anything you’ve ever bought. But it doesn’t have to be confusing. Purchasing your first home should be a great experience and Fifth Third Mortgage is here to help guide you from beginning to end. Move into your first home with confidence by following these 5 steps:
- Prepare Figure out how much house you can afford. After all, there’s no use in finding your dream home if you can’t afford it. Use the simple mortgage calculators available on our website, or talk to one of our Mortgage Loan Originators, to come away with a range of prices you’re comfortable paying. Then, get your paperwork in order. You’ll need to provide information such as income, amount of money in your bank accounts, and Social Security numbers, among other things. From there, Fifth Third can prequalify your financing. This quick and easy process verifies you as “ready to buy” and puts you in a position to negotiate the purchase of your new home.
- Shop for a home Now it’s time to find the dream house you can afford. The amount of information you find on potential homes can be overwhelming, so be sure to jot down notes and take pictures to help remember what you liked or didn’t like – about each home. Above all, be patient – this part of the process often takes more time than expected.
- Make an offer After finding a house you love, it’s time to make the purchase offer, which your real estate professional can assist you with. Once the seller receives it, they have a pre-defined time frame to consider the offer, and accept, reject, or submit a counteroffer to you. Once you and the seller reach an agreement, you are ready to finalize your financing.
- Apply for a mortgage The mortgage you choose is just as important as the house itself. Fifth Third has a wide selection of financing options and loan programs, along with competitive rates, so you can find the mortgage that suits you and your lifestyle the best. Consider us your mortgage resource and remember, we’re here to help answer any questions you may have during this process. To start, visit 53.com/mortgage and get acquainted with your options and
- Close on the loan It’s time to finalize the sale and pick up your keys. At closing, loan documents are signed and funds are disbursed and that’s it! Once you’ve closed on your new home, it’s time to start making it your own. Now you know the 5 basic steps of the home buying process, from getting prepared to closing. Start down the road to your dream home with help from a Fifth Third Mortgage Loan Originator and move into your new home with confidence.
Don’t Refinance Your Mortgage Until You Read It
With current interest rates so low, you may want to look at refinancing your existing mortgage. A lower monthly payment can free up money for other things in your life, like a vacation, or even paying off other debt you may have. But, what’s the best approach to finding a solid refinance program? Many people make the mistake of just talking with their local bank or their existing mortgage company when they look at refinancing. They don’t realize that they can probably save hundreds of dollars more, with even less effort. TopConsumerReviews.com has reviewed and ranked the best mortgage refinance providers available today. We hope this information helps you save money and time with your refinance decision!