HOME PURCHASING

We Love Helping Experienced and First Time Homebuyers Find the Perfect Loan

Whether you're looking to purchase a property local to Chesterfield, MO, or in another state, it's always advisable to have a plan in place to ensure when the time comes, you're ready to make the best offer for your dream home. Samson Young – Mortgage Loan Officer is committed to helping your homeownership dream come true. To start your journey to the perfect home, call 636-357-7995 and let us help you realize that dream.

Family with Pet Dog — Chesterfield, MO — Samson Young – Mortgage Loan Officer

Loan Pre-Approval: Understanding Your Homebuying Potential

Before you start house hunting, getting pre-approved for a mortgage is a crucial step. Pre-approval helps you understand how much house you can afford and sets expectations, but it also gives you a competitive edge in a hot real estate market. Many realty groups will only show you a home with pre-approval, and it shows sellers that you're a serious buyer, which can make a difference when making an offer.

First-Time Homebuyers: The Dos and Don'ts

Dos

  1. Disclose Everything: While it's human nature to want to hide our mistakes and issues that arise throughout life, these little undisclosed pieces of information can cause costly and time-consuming issues that could delay loan processing.
  2. Get Pre-Approved: As mentioned earlier, getting pre-approved is a must. It sets your budget so you know what homes are in your price range and helps you shop confidently.
  3. Consult a Professional: Working with a mortgage broker like Samson Young can save you time and money. We know the local market and can guide you through the process.


Don'ts

  1. Avoid Multiple Credit Inquiries: Opening new lines of credit or making purchases that require credit checks can adversely affect your credit score—lowering it and risking your loan approval status.
  2. Beware Large Cash Deposits: During the loan process, avoid depositing large sums of cash into banks that don't have verifiable source documentation. This can cause systems to trigger red flags for your account.
  3. Avoid Changes to Employment Status: While losing your job is unavoidable with the state of affairs today, suddenly quitting or transferring jobs can affect the stability of the income portion of your loan. If you are thinking of changing jobs, notify your loan officer ASAP.

Can’t find what you’re looking for? Simply call our friendly staff at 636-357-7995.

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