New Year, New House?

As we step into 2025, many people are setting new goals and resolutions for the year ahead. That might include the exciting step of buying a new home! Whether the holidays have highlighted a need for more space to accommodate a growing family, or downsizing feels like the right move, the start of a new year is a perfect time to explore your options. We’re here to help you navigate the journey and turn your home-buying goals into reality.

First things first, Get Your Ducks in A Row?

If you’re making buying a new home a New Year’s Resolution for 2025, but you just aren’t sure how to start or where to begin, we’ve got some suggestions.?

You can start by putting aside a little extra money each month so you have some on hand for later in the year for closing costs, prepaids, home inspection, and/or down payment (visit our blog on how to avoid a down payment!)?

Also, take note of and remember that we do offer the Iowa Finance Authority down payment assistance program and grants, so if the down payment is stopping you, there are options when you work with IFA participating lenders (like us.)??

We also suggest reaching out to us sooner rather than later so we can tell you which loan programs might work for you and walk through your specific situation so we can tell you what you need to do to be in a position to buy more comfortably.?

Sometimes, less money is needed than you think! That, and there are a lot of myths swirling around out there about down-payments and other home-buying costs.?

Similarly, if your credit isn’t in the best shape, it’s time to start paying attention to increasing that credit score, and following some “healthy-credit guidelines” that we outline here.?

Every little point counts. For example, a change from a 720 score to a 740 score may seem like a small amount, but it can reduce your interest rate and give you more options as far as loans go.?

However, don’t get stuck thinking you need an 800 credit score to buy a house. If you aren’t positive if the score you have now will qualify you for a home loan, feel free to reach out and ask about your options.?

We’re Here to Help and Get You Pre-Approved

Don’t worry, you don’t have to face accomplishing this resolution alone. We’re here to support you every step of the way.

When you’re ready, we’ll help you get pre-approved,? and give you a clear understanding of your budget, which will hopefully boost your confidence as you start your home search.?

We do pre-approvals over the phone, in person or online via our online application and secure portal! Personally, we recommend in-person appointments if you live locally and can fit in in your schedule. But whatever your preference, we’ll make it work!

We don’t just disappear after the pre-approval. We’re also here to guide you through the entire home-buying process, answering your questions and providing expert advice to make the journey as smooth and stress-free as possible.?

“What’s The Payment?”

Monthly payments matter! Sure, interest rates are important too, of course, but don’t obsess about what the media says about rates. Set your budget and align your mortgage payment and home price accordingly.?

Many people feel the financial crunch at this point of the year—but if you can afford the overall payment, and your credit is already pretty good—then getting into a home is better than paying 100% interest when renting.

If interest rates were to significantly drop (which is unlikely), all of the other people waiting on the sidelines will also jump into the market. This will make house prices increase, have you competing with other buyers, and potentially losing out on the house of your dreams.?

If you can afford it — or if you think you can afford it but don’t know — we’re here to help you figure that out and kickstart the process.?

Ultimately, even if you don’t think you’re ready for pre-approval, reaching out to a mortgage lender is your best bet if home-buying is on your goal list for the future.?

You just don’t know what you don’t know, and we can assess your situation and tell you what you need to be doing to get into the best position possible for buying a home.?

Let’s make 2025 the year you buy!