Thursday, October 5, 2017 / by Cole Elwood
Step 1. Talk to a lender, Get pre-approved
By far the most important step in any home purchase that is not a cash deal is talking to a lender. Getting pre approved for financing before your start looking at homes will save you time. The types of properties you look at will be determined not only by what price range you are pre approved for but also the type of financing you choose. With loans ranging from 0% down government programs to 20% conventional the properties that fit with each of these programs vary wildly.
One lender that I have had many clients choose and be very satisfied with is Sue Ryan with Union Bank. Choosing a local lender is key to purchasing in VT. We are one of only two states in the U.S. that are "attorney States". There are specific laws here in VT that can cause delays or worse with lenders that do not have a local office in VT.
If you would like to contact Sue and find out what kind of loan you qualify for contact her through her Website here:
Sue Ryan/ Union Bank
As a first time home buyer you may also want to look into VHFA which may allow you to qualify for financial assistance from the federal government on your first purchase. Learn more here:
VHFA Union Bank
Take your first step today towards becoming a first time home owner and get pre approved. Be confident, educated and ready to make your first purchase. Stay tuned for step 2 in the first time home-buyers process next week!