With today’s rates being as low as they are, many potential home buyers are looking for ways to fast track the mortgage process at rocket speeds online or through Apps on their phone.

After all, we do live in a time where we can have almost anything we want on demand through a few clicks. With all of these amazing conveniences, it only makes sense that there are similar shortcuts to buying a home, right?

Wrong!

The purchases mentioned above, are relatively minor compared to the average price of a home. And many first time home buyers don’t realize that mortgage loans are not one-size-fits-all products and each one is tailored to the borrower’s unique financial situation

When you work with a mortgage expert, either face-to-face or over the phone, they can ask you the right questions to help you secure the best mortgage at the best rate, customized to meet your own personal home buying needs.

And while today’s rates remain low, they won’t be forever, so the more prepared you are in advance, the better your chances will be later of securing the best possible mortgage to help you buy the home of your dreams.

Here are five simple steps to make the home buying process as uncomplicated and easy as possible for you.

1. Start saving now!

While some mortgage products require a very low down payment, or no down payment at all, there are costs associated with the buying a home you may not be aware of. Outside of fees associated with closing costs, the home’s inspection, etc., there may also be upgrades or changes you’ll want to make right away, sich as the installation of a wireless AV system.

2. Know your loan options.
FHA, VA, conventional, jumbo… all of these mortgages have their plusses and minuses.

A mortgage expert can help you decide which one is the best option for the home you’re considering and walk you through down payment scenarios and other factors that will affect your monthly mortgage payment.

3. Know in advance what you’re approved for.

Most people have no idea how much a mortgage lender is actually going to loan them until they find a home they like and apply for a loan. Getting approved for a mortgage can take some time and with the limited availability of homes on the market, any delay can cause you to lose out to another buyer who is already working with a lender.

Make sure you have a pre-qualification before you even start window shopping for a home and later, secure a pre-approval before you start meeting with Realtors and home sellers. Many Realtors and sellers won’t meet with potential buyers unless they see a pre-approval letter from a mortgage lender.

4. Is anyone else pretending to be you?

Many potential borrowers don’t realize that they’ve been the victims of identity theft until they have had their credit checked by a mortgage lender. ID theft can hurt your credit score and make it very difficult for you to secure a mortgage at a favorable rate.

Overcoming identity theft is a time consuming process and one that does not happen overnight. It’s best to check your credit report at least once a year to see if you’ve been the victim of identity theft and fix any errors you may see before you apply for a mortgage.

5. Connect with a mortgage expert for insider secrets.

Each borrower’s situation is different and there are many other steps a borrower can take to secure the best mortgage at the lowest rate possible. However, these are all based on the individual borrower’s personal situation, the current interest rates and the home they are looking to purchase.

HomeBridge prides itself on taking a personal approach to the mortgage industry. Any of the mortgage loan originators in my office would be happy to discuss your home buying needs with you and there is never an obligation to work with HomeBridge when you do decide the time is right to purchase a home.

About the author:

Jeff Conn is the branch manager for the Cobb office of HomeBridge Financial Services, Inc. one of the largest, independent mortgage lenders in the U.S. Appointments with Jeff or someone from his team can be made by calling (770) 373-5500, sending an email to jconn@homebridge.com or by going online to www.homebridge.com/branch/kennesaw/.