Congratulations! Buying your first home is a major life milestone. You worked hard to save money and put yourself in a position to be a first time homeowner. As gratifying as this moment is, it can also mean sleepless nights thanks to a challenging home loan process. To help ease your mind, Delta Community has a First-Time Home Buyer Program
and professionals like Pam Davis, Vice President of Retail Lending, who can help you navigate the process.
According to Pam, speaking with a trusted home loan specialist is the first step to securing your home loan. Prepare questions for the specialist and organize your financial documents before your meeting. Also, be sure to pre-qualify for a loan prior to searching for a home and don’t forget to factor in closing costs and the down payment.
Pam believes exhausting your entire savings on a down payment is the wrong decision. Everyone needs to have an emergency fund, even if it means putting less money into your mortgage. Delta Community’s First-Time Home Buyer Program
is designed to help you develop a payment plan that makes sense for your unique situation.
Real Estate Agents Are Here to Help
When it comes to finding the right agent, Pam advises hiring someone who will help you identify your wants, needs and desires – and then help you find a house that meets those expectations. Again, preparation is key. You should know the area where you hope to live as well as the size and price of the home you want to buy. And if your real estate agent doesn’t provide the guidance and advice you need, don’t be afraid to end the relationship.
Low Interest Rates = A Great Time to Buy
Now is a great time to buy thanks to the low interest rates available on home loans. Delta Community is offering 97 percent financing with no private mortgage insurance. We have you covered for all your first-time home buying needs. So stop by to see us about your first home - and happy house hunting!