It’s no secret, purchasing a home is extremely exciting and equal parts stressful, regardless if you are a first-time homebuyer or have owned several properties in your lifetime. We have compiled the following steps that we found to be especially helpful throughout the journey. We hope these tips will help you as well.

Analyze how much you can afford. Several factors affect the loan amount and therefore the value of a home that you can afford to purchase. The most important factors to consider are your income, credit score, monthly expenses, down payment, and cash reserves. Contact Us when you are ready to talk about the steps to getting a pre-qualified opinion of your loan parameters.

Learn your rights. Borrowers should fully understand the purchase contract and watch out for scams and predatory lenders. Consult with a HUD housing counselor to learn more about your rights.

Understand the loan products and programs available to you. Starboard Financial offers a full range of programs for all types of borrowers. Whether you have less than ideal credit, past derogatory credit events, little to contribute to a down-payment, or are a perfect conventional loan candidate, we have options to fit you needs. Contact Us today or visit the Your Loan tab above to learn more.

Get Pre-Approved. A pre-approval sets you apart in the home bidding process because it shows the home seller that you are serious about your offer and can back it up through an independent verification. When weighed against multiple offers, those with a pre-approval often win the bid. Enhance your buying confidence by Contacting Us today about getting you pre-approved. Best of all, we provide this service for free! We only ask that you reimburse us for the cost of pulling your credit report – no more than $25 in most cases.

Establish your Housing Wish List. Set your housing priorities and preferences by considering these questions:

  • What part of town or community would you like to live in?
  • Are local schools a factor for you? What considerations do you need to make around this need?
  • Would you prefer a new home or an older home?
  • Does a one story, two story, townhouse, or condo accommodate you best?
  • Does a contemporary, traditional, southwestern, or colonial style home appeal to you?
  • How much renovating are you committed to performing?
  • Will you need to be in close proximity to public transportation?
  • Do you have physical access needs?
  • Do you have animals?
  • How big of a yard, lot security, and parking needs do you have?
  • How many bedrooms and bathrooms do you need?
  • How many square feet of livable space would you like to have?
  • What interior features do you need and prefer?
  • Would you like to live in an HOA (Home Owner Association)?
  • What community benefits would you like to have?

Of course this is not an exhaustive list, but it should spark some thoughts about how you can narrow in on your search parameters.

Go Home Shopping. Now the fun begins! Enjoy the shopping experience and see as many homes in your price level as possible. Shoot for as many of the items from your checklist as you can.

Place a bid. Make as strong and confident of an offer as you see fit. We want you to acquire that new home as much as you do.

Contact your Loan Officer. Let us know immediately once you have a signed and executed purchase contract from all parties. We will get you loan off and moving to meet your financing commitment date as soon as possible.

Be on the lookout for communications from Starboard. Our processing model is built to get your loan from initial documentation to funded as quickly as possible without getting you or us in any trouble (in as little as 10 days in fact). We will keep you current with the process as we move through the mandatory stages we must follow. If the pace is too fast for you, please let us know. Our job is to accommodate and partner with you. Your satisfaction is paramount to us.

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Contact Us today if you would like to discuss the purchase process further or if you have any inquiries about our product offerings. If you do not have any questions and are ready to submit your information for a loan decision, please Apply Now.