Research your mortgage options. As a first-time homebuyer, you’re undoubtedly anxious and excited about moving into your new home, but take the time to step back, do the research and learn the differences between the various types of mortgages so you’ll know which one is best for you.
Know your credit score. As soon as you decide to start looking for a home, check your credit report and credit score with any of the 3 major credit reporting agencies: Experian, TransUnion and Equifax. If you find any mistakes that need to be corrected, addressing these issues early will put you in a better position when it’s time to buy a house.
Find a responsible lender. When you choose a lender, pick someone you feel good about working with. They should listen to you and put your needs first, and they should be able to explain your home loan options in plain terms.
Get pre-qualified for a mortgage before you start shopping. Knowing how much you can borrow will let you keep your search focused on the homes that are right for you. You can pre-qualify for a loan with WVBK Home Loans online or in person at a local home loan center. Your loan officer will provide you with an estimate of how much you can borrow before you start looking at homes. *
* Pre-qualification is neither pre-approval nor a commitment to lend; you must submit additional information for review and approval.