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For Your Life May 30, 2023

Position Yourself for Homebuying Success

You can picture your perfect home. You’ve got the paint colors and furniture picked out. You’re ready to plant flowers and host dinner parties. But then ... record scratch ... the analytical part of your brain tells you to make a plan, and you don’t know where to start. Worse still, you’re not sure if this is even the right time to start.

First, the time is now.

You may find yourself thinking, “I’ll wait until mortgage rates go down” or “Houses are too expensive right now.” But there is no “perfect” time to buy a home. Rates are continually fluctuating, and home prices are expected to moderate throughout 2023.

The best time to buy is when you’re ready to buy. So instead of trying to time the market, work with an experienced homebuying team who can help you achieve your goals, no matter what the market brings.

Second, start with the money.

It’s tempting to begin by driving through neighborhoods and hunting for house showings, but that may be a mistake. Before you make an emotional connection with a potential home, you should start by finding out how much house you can afford and get pre-qualified for a loan.

Not only can you then target your home search to your budget (as well as your daydreams), but you can also move quickly when the right property comes along and show sellers that you mean business. With financing already in place, sellers will take you seriously.

Finally, don’t feel like you have to do all this on your own.

At Old National Bank, we have a wide range of mortgage options and experienced lenders to help you understand your options and help position you for success.

For some, that may include knowing more about low down-payment options and down payment assistance programs to get into a first home; for others, it may be finding the right way to finance a retirement property. Wherever you are on your journey, let’s talk through your questions and see what we can do to make your dream home a reality.

Homeownership is one of the primary ways to build wealth, and as equity builds, it provides owners with a vital financial resource to tap.

Reach out to a Mortgage Loan Expert, to create a homebuying plan today!

 

Down payment assistance programs are subject to availability. Additional qualifications may apply.  Some restrictions may apply and program conditions subject to change without notice. All loans are subject to credit review and approval. Property insurance required. Rates are subject to change daily. Contact an Old National Mortgage Lender for product details. Bank NMLS#459308.

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