Buying Your First Home?

Here’s some information no one else will tell you!

Buying your first home can be stressful, but we’ve got some tips to make buying your first home easier. And best of all, you’ve got National Iron Bank behind you when you decide to make that big purchase!

• Get pre-qualified for your mortgage through National Iron Bank. Then only spend 75% of what you’re qualified for. Mountain Community can pre-approve you for a home loan at any stage of the house-hunting process, enabling you to have better success when you’re shopping for your new home!
• Don’t go into debt to furnish your home. Kids don’t care if you spent $20 or $500 on that end-table when they are coloring on it.
• Make as low of an offer as you can stomach. You can never negotiate downwards.
• Buy less house than you can afford. You won’t miss the little extra square footage the first time around, but you’ll appreciate being able to save more money toward your next home.
• Budget for the post-move expenses. You’ll be amazed how much can crop up that you need right after you move, and no matter how carefully you think you’ve outlined the purchase agreement, you’re going to need to make some extra purchases. Having the money set aside will help you deal with the unexpected. And on the off-chance you don’t spend the money? You’ve got a good start on an emergency fund.
• Put down as much as possible. Twenty percent is ideal, but the more you can afford to put down, the more you’ll save yourself in the long run.
• Pay for a high-quality inspector. He or she will be worth the extra money in the long run for what they can save you in extra expenses.

National Iron Bank can get you the perfect home loan for your first home – or your third or fourth!