Does buying a home need to be stressful? Not necessarily. It can be a very enjoyable process, but there are some steps you need to take if you wanted to go smoothly. In 8 Ways to Make Buying a Home Less Stressful, Part 1, we talked about a few things you can do to make the home buying process simpler and more stress-free:
8 Ways to Make Buying a Home Less Stressful
- Plan ahead.
- Make sure you fully understand your budget.
- Educate yourself about the mortgage process.
- Set priorities for what you want in a home. Let’s go over a few more recommendations.
- Be realistic and be ready to make changes to your plans. In Part 1, we talked about setting priorities while shopping for a home. But it is worth mentioning that your flexibility is also key when it comes to reducing stress during the home buying process. If you are rigid in your approach, you will have a hard time coping with not being able to get everything you want, even if you can meet your priorities. Similarly, you will struggle more if there is a hiccup with your timetable or if you need to make any other adjustments along the way. So, try and get yourself into the right mindset before you start shopping for a home and applying for a mortgage. Accept that you probably will not have everything go precisely to your plans, and you may need to be ready to adapt. If you can approach the process with that mindset, you will be less stressed when you do need to make changes to your plans.
- Look into different options for handling the down payment. Many first-time homebuyers stress out a lot about the down payment when they prepare to purchase a home. If you are assuming that you need to put 20% down on a home, that may make you feel unnecessarily stressed. The truth is that you can buy a home with a much lower down payment in many circumstances. And even in those when you cannot, there are usually options. These types of mortgages offered by Blue Square Mortgage are available with lower down payments:
- Conventional: You may qualify for a conventional mortgage with as little as 3% down.
- FHA: An FHA mortgage insured by the Federal Housing Administration can have a down payment as low as 3.5 percent. Credit qualification requirements are relaxed.
- VA: A VA loan insured by the Department of Veterans Affairs has zero down payment requirement and no PMI.
There are also down payment assistance programs offered at the city and state levels in Washington in Seattle. We can tell you more about these loan options and assistance programs during your consultation.
- Get pre-approved. Shopping for a home when you do not know exactly how much you can afford is stressful, and involves unnecessary time, legwork, and disappointment. It is also stressful when you want to make an offer to a seller, but the seller does not take you seriously because you have not yet been approved for a mortgage. The way to get around this problem is to get a letter of mortgage pre-approval. You can avoid wasting time looking at homes you cannot afford, and sellers will take your offers seriously. This speed up the entire process of shopping for a home and makes it a much more enjoyable one. Blue Square Mortgage can get you pre-approved for a home loan in Washington.
- Choose professionals to work with who can help you achieve your goals. Last but not least, shopping for a home and choosing a mortgage will both be much less stressful if you work with professionals who are up to the task. An experienced real estate agent and a dedicated independent mortgage broker can both answer your questions about shopping for a home and getting a mortgage. They can simplify the process and offer you solutions and support. Getting the answers, you need and knowing a professional is truly going to go above and beyond to make sure you achieve your goals as a homebuyer can remove a lot of pressure.
Blue Square Mortgage Makes Home Buying Easy
A beautiful home is waiting for you in Seattle or elsewhere in Washington State, and Blue Square Mortgage is here to help you buy it as effortlessly as possible.
To get started now, please give us a call today at (206) 352-6453 to schedule your consultation. We can’t wait to help you move into your new home with a competitive mortgage.