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HOME PURCHASE BASICS

Congratulations on your decision to buy!

There are many important things to consider throughout the process, especially if you are a first-time homebuyer.  Here is some information that will keep you on track.

In General

Count on your Realtor to:

  • Preview available homes to weed out those that are overpriced or undesirable.

  • Present homes that suit your needs as you have defined them.

  • Negotiate the best deal for you.  With  a Pre-Qualification letter from us, your realtor will be able to see that you are a capable borrower and write that sales contract. 

Pre-Qualify - learn what your credit qualifications and home loan eligibility may be.

Count on your Loan Officer to:

  • Assist you in selecting the best loan to meet your personal situation. 

  • Keep you informed of your loan status throughout the entire loan process.

  • Keep your realtor informed of your loan progress. 

    • (NOTE: your personal information is always kept confidential, only progress is shared.)

 

Count on Yourself to:

  • Make sure you are pre-qualified as early as possible. 

    • Find out your credit qualifications and how much home you can afford.

  • Keep your realtor and loan officer informed of any questions or concerns as they develop.

  • Keep the process moving by providing your loan officer any documentation required as soon as reasonably porssible.

  • Enjoy purchasing your home, but remain objective throughout!

Know Your Credit

Your credit score and its underlying history are some of the most vital parts of your financial life. Your credit score follows you forever, and it will play a huge role in many major financial situations throughout your life.

 

Learning About Your Credit

When you are applying for a new credit card or a loan, there is a great deal to understand so you can make smart financial decisions. The Federal Reserve's Consumer's Guide to Credit Reports and Credit Scores is a helpful tool that provides practical answers to questions about credit reports, credit scores, and the importance of protecting personal credit histories.

 

Annual Free Credit Reports    

Staying on top of your credit score is one way to monitor your financial wellness. Access your free credit report from these three major credit reporting agencies, Equifax, Experian, and TransUnion, with AnnualCreditReport.com or call toll free: 1-877-322-8228.

Apply Now and get a better mortgage experience with Ozarks Federal.