Share buttons

 

 

Home Advice You Can Count On.

We make it easy to do everyday banking at Horizon, but everybody still needs some sensible advice from time to time to help with their goals and strategies for saving, investing wisely and making the most out of your financial journey. That’s why we provide fresh advice topics to help you along the way.

Looking for specific advice? Use our search feature to explore our various topics.

A Step-by-Step Guide to Homebuying

Couple of steps of new home

Competition can be fierce among those looking to purchase new digs, so it’s important you know how to navigate the home buying process to get the house you want. Here are 10 steps to finding your perfect home and snagging it at a reasonable price.

1. Know your credit. Check for errors on your credit report and fix them before beginning your house search. This will likely have a major effect on what houses you can afford.

2. Determine your down payment. A higher down payment, for instance 20 percent, will often lead to a lower interest rate on your mortgage and you may be taken more seriously as a qualified buyer.

3. Get prequalified Getting prequalified for a mortgage helps determine your price range, reducing time wasted looking at homes you can’t afford. To turn that dream into reality, you need to work with a Horizon Bank mortgage specialist. To find a mortgage advisor near you visit www.horizonbank.com


4. Get a real estate agent. While it is possible to purchase a home yourself, most homebuyers are better off relying on the professional experience of a real estate agent who helps homebuyers every day.

5. Choose an area to focus your search. Consider what is important to you and your family, whether that is a good public school system or lively nearby nightlife.

6. Compare prices on properties in the area. While no two homes are identical, comparing nearby homes can give you a good sense of a reasonable price for those you’re interested in.

7. Find out closing costs ahead of time. Closing costs can typically range from 1.5 to 4 percent of the purchase price and you should prepare for these before making your offer.

8. Make a reasonable offer. Consult your real estate agent about what offer is reasonable for the home you’re interested in and discuss what concessions you are willing to make to the sellers.

9. Get your prospective home inspected. All offers should be contingent on a satisfactory home inspection to reveal shortcomings before closing.


10. Close the transaction. Once you have agreed on an offer it’s time to sign all the mortgage documents and other paperwork to assume ownership of your new home. Congratulations on your new home!

The web site you have selected is an external site not operated by Horizon Bank. This link is provided for convenience and informational purposes only and Horizon does not endorse and is not responsible for the content links, privacy policy or security policy of this website or app you are about to visit.  Horizon Bank is not responsible for (and does not provide) any products, services or content for this third-party site or app, except for products and services that explicitly carry the Horizon Bank name. Click Proceed to continue or Cancel to go back.