My First Time Home Buying Experience

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05.15.2015 Written by Fox Communities

A home of one's own

I never imagined purchasing my own home as a single woman in her mid-twenties. But that’s exactly what I did five years ago. Boy, was it an eye-opening experience. Do I regret it? Not for a second. Are there things I wish I would’ve done differently? Certainly. Maybe you can learn a thing or two from my experience…

PRE-APPROVALLindsay and Rob Loan Officer

My parents were the ones who encouraged me to look into buying a home. For the price I was paying in rent, it made a lot of sense. Why not have something to show for my money? They recommended I stop in at Fox Communities to get pre-approved for a home loan. This is where I met Rob Lamirande, Mortgage Loan Officer at the Kimberly Branch. His title doesn’t do him justice. It should be more like, “Home Loan Extraordinaire.”

Rob made sure I knew what to expect throughout the entire home purchasing process. He was there to answer all of my questions (I still call him if I have a question), no matter how ridiculous I thought they were. I was happy to have him on my team.

HOME SEARCH

After my pre-approval, it was time to find my home. Pre-approvals are good for 120 days, so there was no reason for me to rush.

I found a fantastic realtor through a friend. She had me make a list of “must-haves” and “can live withouts”. I think we looked at over thirty homes. About a month and a half in, discouragement began to settle in. Until one day, I saw it. The house I knew would become my home. Two months later on a hot Labor Day weekend, my amazing friends and family were helping me move out of my apartment and into my new home.

SUMMARY

Did everything go right? Not by a long shot. Some parting tips:

  • Choose your home inspector carefully (AngiesList.com is a great resource). You don’t have to use the ones your realtor recommends.
  • Inquire about bi-weekly payments, which allow you to pay off your loan sooner. Fox has many loan terms available with this FREE option (many other financials charge for this).
  • Secure your moving truck well-ahead of time. Give yourself an extra day or two with it.
  • If you can, paint your walls when your home is empty. It’s much easier!
  • Let the people who help you move know how appreciative you are. Feed them! Say thank you. Feed them some more, and thank them again.
  • Use Fox’s Online Banking to monitor payments, loan balances, etc.

If you think home ownership is way beyond your reach, think again. Fox Communities Credit Union is here to help start the conversation. Need to save up for a down payment? Not sure how much you can afford? We can help! Fill out the form below and one of our expert mortgage lenders will follow up with you.