What’s Hot and What’s Not When it Comes to Your Home Financing?

What’s hot? Getting pre-approved for a mortgage from your local lender.

What’s not? Waiting until you’ve put an offer in on a home to get pre-approved. A pre-approval will help you determine how much you can afford and will help make your offer stronger because the seller feeling confident that you’re able to secure financing for the home. Check out our blog post on the benefits of a pre-approval.  

What’s hot? Working on your credit by following these tips from Debi Honeycutt, TowneBank Mortgage Credit Specialist.

What’s not? Financing furniture before closing on your loan. Want to learn more about other things NOT to do during the loan process? Read our blog post on what not to do during the mortgage process.

What’s Hot? Talking to your local loan officer when you have questions specific to your financial situation.
What’s not? Believing old and outdated downpayment myths. To make sure you’re not being fooled, read our post on common downpayment myths to avoid. 

What’s hot? Purchasing a home while interest rates are still historically low.

What’s not? Letting student debt hold you back from your homebuying dreams. To learn more on how to purchase a home with student loan debt, check out our blog post.

The information contained herein (including but not limited to any description of lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice. This is not a commitment to lend.