3 Steps to avoid a homebuying crisis

Owning a home is a life goal many would like to accomplish. A property is an asset that can benefit you and your household for years to come. If you’re ready to start your homebuying journey, there are a few crucial steps to consider which can help you avoid pitfalls along the way. 

Shop around for mortgage lenders

If you’re planning to finance the purchase of your property through a mortgage, it’s essential to shop around first to get the best deals. 

There are many loan options and some offer outstanding benefits. For example, if you’re in the military, a VA loan program often includes lower interest rates and no down payment on a property. There are other loan options that reward members for great credit scores and even for having a home security system. 

Get pre-approved for a mortgage 

Before you start the home buying process, fill out a mortgage pre-approval application. This process can give you the green light to whether you qualify for home financing which in turn can help you better adjust your budget for the purchase of your next property. 

You can schedule a meeting with a mortgage lender in-person or fill out a form at your convenience online. 

Hire a real estate agent with excellent credentials 

Consider doing research on the real estate agent you wish to hire. As you’ll be working closely with this person, it's essential they have great communication skills and in-depth knowledge of the area you’re searching to purchase a home in. 

This way, if you have questions about zoning laws, HOAs, contractors or anything related to your new home, they’ll be equipped to give you guidance. 

By examining financing ahead of time and collaborating with a trusted real estate agent, you’re less likely to run into a homebuying crisis.