Steps to Buying a House

The journey to homeownership is an exciting adventure and we want to ensure it is as simple and enjoyable as possible, which is why we’ve broken it into achievable steps. We’ve given a glimpse into these steps below. If you’d like more information, we encourage you to subscribe to our Journey to Homeownership email series! It is full of fantastic guidance to help you on this adventure.

Step 1 – Know What You Can Afford
First, you need to find out how much money your lender will let you borrow. You need to get pre-qualified and learn how we determine if we can give you a loan. We're here to provide insight on establishing credit and making your finances work for you.

Step 2 - Considering Costs
For first-time homebuyers, we have some unfamiliar territory here: there are more costs associated with buying a home than just the house payment and realtor fees. Before you even purchase, you’ll need cash on hand for your down payment and earnest money, but don’t let the 20% myth scare you. There are loan programs available with as little as 3.5% or even zero down!

Step 3 - Getting the Mortgage That’s Right for You
Selecting the right home loan can be tricky. It's important to choose a loan that fits your needs.  Your mortgage lender will walk you through the loan programs available and help you make the best decision possible. To learn more about home loan options, click here.

If you want to learn more about each of these steps, subscribing to our Journey to Homeownership emails is easy, just click here! If you're ready to speak with one of our friendly mortgage lenders about the home loan process, click here.

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Lincoln Savings Bank, Member FDIC, Equal Housing Lender