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Buying a Home

Posted on Friday, November 4, 2016 in Lifestage Checklists

You are looking at taking the next big step in your life and are thinking about purchasing a home. There are many steps that you need to take before you start looking and purchasing a home. Here are a few tips for when you begin the search!

Down Payment
  • Save and determine what you can personally afford for a down payment. Usually 20% is an ideal down payment.
Know Your Credit Score
  • Know your credit score and make sure that your credit history is healthy.
Find a Mortgage Lender
  • Contact a State Bank & Trust Co. Mortgage Lender. 
  • Get prequalified. Fill out an application form and see how much you are prequalified for so that you have an idea of your available purchase amount.
  • Keep in mind that you must also have funds to close on the deal.
Find a Realtor
  • Find a knowledgeable realtor in your area
  • Start house hunting
  • Compare prices in your area
Know the expenses of owning a home
  • Insurance

  • Utilities

  • Payments

  • Maintenance

  • Real Estate Taxes

  • Homeowners Fees

Additional Resources
  • State Bank & Trust Co. Mortgage
  • Mortgage Loan Calculator
  • Be sure to have a home inspection done prior to purchasing a home
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