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Purchasing a home is a big decision, but with the experts at AmeriChoice on your side, we’ll ensure the decision is a sound one. So, before you go shopping for your dream home, consider AmeriChoice for your financing options. Donna Goss and Vicki Mardis make up our dedicated mortgage team that is committed to helping our members make the right financial decisions, as well as finding them the best possible mortgage solution. Our team will walk you through the home-buying process and will also be available for you to consult years beyond the purchase.

First-time home buyers often make common mistakes when it comes to getting their dream home. Everyone wants to get the best mortgage and house for their money. It can be tricky to navigate these financial waters, but here are some valuable tips that can help you on your way to home ownership. AmeriChoice is here to help you invest in your future.

Get pre-qualified first

Before you begin to look at houses, whether it is online or in your community, you should first get pre-qualified. This allows you to know what you can actually afford before you fall in love with a house that is out of your price range. A pre-approval letter could also help to prove your credibility with real estate agents and sellers. Avoid the stress and get a head start on getting pre-qualified so you can stand out in a competitive real estate market.

Establish a relationship with your lender

Our mortgage team at AmeriChoice FCU are experts and truly value our members. They will work with you one-on-one and walk you through the home-buying process. They will also be the best people to consult with to determine the best program that will fit your individual needs. By establishing this relationship, it will show your realtor that you are a serious buyer.

Keep your credit score high

All mortgage lending is based on your credit score, so don’t let it hurt you. If you’re thinking of buying a house, check up on your credit. Your goal should be to get your credit score above 720 for the best rates. If your credit score is 620 or below, it may be increasingly difficult to be approved for a loan. So be aware of your credit report before diving in to the pre-approval process to see what needs changed.

Choose the right mortgage product for you

The most common mortgage is the 30-year fixed-rate-mortgage. This traditional mortgage plan is great for long-term financial stability. By choosing a fixed rate loan program, you can have peace of mind of knowing that your monthly mortgage payment will not increase. However, this mortgage is not the best choice for everyone. To find the right loan program for you, your mortgage consultant will evaluate things such as monthly household income, current assets and savings, and any other monthly obligations you may have.

There are many resources available for first-time home buyers and people looking to purchase their second or third home. Take your time and make the decision that’s right for you. AmeriChoice is a great place to start. Visit our Mortgage Center today and make your dream home a reality.