Helpful Tips to Consider
If you’re ready to buy a home, that’s great news! There are a few things you’ll need to do that you may not realize, especially if you’re a first-time homebuyer, or if it’s been a number of years since your last home purchase.
Getting Ready to Buy
Before you even begin looking for a new home, contact First Bank Mortgage and one of our knowledgeable Home Loan Advisors can help guide you through the homebuying process. It’s helpful to obtain pre-approvals prior to house hunting, so you’ll know your budget ahead of time. We’ve provided a helpful list of items, like previous employers and prior addresses, to have ready when applying for home lending with First Bank Mortgage.
Once you’ve received loan approval and an approved contract (and amount) on a new home, you’ll need to obtain homeowner’s insurance for your new place or condo insurance if you’re buying a condo. Most lenders require that information as soon as possible. It can hold up the closing process if you do not obtain homeowner’s insurance in a timely manner.
If you’re using a real estate agent, they should be scheduling an inspection of your new place. You typically have 10 days from day of acceptance of the contract to get the inspection completed.
Before the Move
You’ll need to call various utility and service providers to order new service or transfer existing service. Keep in mind, you will need to transfer or establish new service for the following:
- Gas/Electric—There may only be a single source or provider in your area for these services.
- Water—You may check, if buying a condo, whether or not water is included in the condo fee.
- Sewer—The title company should switch the sewer bill over for you.
- Internet, cable, and phone—There are a few choices, depending on your area, so check pricing before establishing service.
Another thing to remember is an address change form. You can stop by the post office and fill out an address change form or go to to USPS.com/move to change your address online. This change order is good for one year and allows you to notify creditors and others of your new address. You may also want to speak with a moving company and budget accordingly to assist with the move.
As you can see, there are a few moving pieces when it comes to purchasing a home. Please contact a First Bank Mortgage Home Loan Advisor when the time comes so we can help make your move as smooth as possible. If you’re buying a home in another state, these same tips will certainly apply.