There's No Place Like Home
Be smart when planning for one of life’s biggest investments
So, you’re ready to take the plunge and buy a home. It’s exciting, but before you start picking out paint colors and floor coverings, be sure you’ve done your homework ahead of time. There are a number of steps you should take to make your new home experience a memorable one — for all the right reasons.
First Community Bank recommends first getting pre-qualified for a loanto determine what you can afford and what loan options will be best for you. In addition to running a credit check, the Home Loan Center may require the following information during the loan process:
- A current driver’s license
- Your Social Security number
- Current pay stubs and W-2s for the past two years or, if self-employed, your tax returns for the past two years
- Bank statements for the past two months
- Investment account statements for the past two months
- Retirement account statements for the past two months
Below are some important guidelines to keep in mind once you’re ready to begin house hunting. You can find more information like this in the Home Loan section of our website, including mortgage calculators and even an online application.
Count on Your Loan Officer To:
- Assist you in selecting the best loan to meet your personal situation and goals, which can save you thousands of dollars over the years.
- Keep you informed of your loan status throughout the entire process.
- Keep your Real Estate Agent informed of your loan progress.
Count on Your Real Estate Agent To:
- Preview and present homes that meet the needs you’ve outlined and weed out those that are overpriced, or undesirable in some other way.
- Help you determine the difference between a "good buy" and a property that might have to be discounted if you decide to sell in the future.
- Negotiate the best deal for you. With a Pre-Qualification letter from us in hand, your Real Estate Agent will be able to demonstrate that you are a qualified and capable borrower — a big plus.
Count on Yourself To:
- Make sure you are pre-qualified as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.
- Keep your Real Estate Agent informed of any questions or concerns
- Keep the process moving by providing documentation and making decisions as soon as reasonably possible.
Learn more about the First Community Bank Home Loan Center at fcbot.com/home-loan-center.