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Preparing to Buy a Home


Preparing to buy a home can feel overwhelming. There’s so much to consider, especially getting all the financial pieces of the puzzle in order. Credit scores, down payments, mortgages requirements, and choosing the right lender are just a few of the things running through the mind of a homebuyer. But, with the right information (and the right agent), you can find and purchase the home of your dreams.


Top Four Things You Need to Know to Buy a Home

Here is our straightforward, no nonsense list of getting your finances in order before you even begin looking for your first home.

  1. Hire a professional. We say this about everything, but when it comes to buying a home, you want a lender who can tell you exactly what to do and in what order to do it. We recommend Andrea Kindley with Fairway Mortgage. She’s worked with our clients in the Lake Norman area for years, and we trust her implicitly.
  2. Next, know your credit score. This is a critical piece of the mortgage process. It tells the lender what kind of a risk you are (and for the most part, they like a low risk)! Look for any errors on your credit report and resolve any issues quickly.
  3. Save cash for your down payment and any other expenses. This can run you anywhere from 3.5 to 20 percent of the purchase price.
  4. Get your documents in order. This is hands down one of the most frustrating pieces of the puzzle for buyers and lenders. You can get a list of the documents you need from your lender. Start collecting them and put them all in one place. If you are able, scan them all in advance so you have electronic copies when your lender asks for them. (You’ll be amazed at how much time this saves!)


That’s it. If you accomplish these four things before you even start looking for your home, you’ll find the process of securing a mortgage to be so much easier.


As always, we’d love to help you buy a home in the Lake Norman area. We are the local experts, having lived in and served our community for generations.


Keeping it real,


The Cloninger Properties Team

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