Buying your first home

Buying your first home is one the biggest investments you will ever make. There are dozens of decisions you need to make. Should you use a realtor? How much house can you afford? How do you get a mortgage and what’s the best mortgage for your needs? These can be challenging questions for anyone, especially a first time home buyer!

HomeTrust Bank’s mortgage experts provide you with guidance on the questions above, help you understand what’s involved with getting a mortgage, and help you select the best mortgage for your financial situation.

We also help you get pre-approved before you start house hunting, so you know exactly what you can afford. A preapproved offer lets sellers know you are ready and serious about a purchase.

These tips can make your first-time home buying process smoother and faster.

  • Buying your first home has many advantages, but it’s also a huge responsibility. Be sure to consider all the costs, including maintenance and unexpected expenses.
  • Look at your finances, including your credit report, amount of debt, any late bill payments or financial disputes.
  • Work with a mortgage expert to get pre-qualified and pre-approved so you feel confident making an offer. Our mortgage experts can explain the differences between a pre-qualification and a pre-approval so that you choose the best option for you.
  • Establish a budget. Consider your monthly expenses; how much you can save monthly, how much you can put down, and taxes and insurance costs.
  • Gather the documents you need for a loan application. This includes pay stubs, checking and investment statements, and credit card documents.
  • Decide what type of loan is best for you—there are government guaranteed loans such as FHA, USDA and VA and conventional loans, fixed rate and adjustable rate.
  • Do your research. There are many helpful US government resources online, and our mortgage experts also offer resources and guidance.

Let our mortgage experts help you get pre-approved now!