How to start shopping for a home: A guide to the first steps.
If you find yourself getting swept up in photos of beautiful home interiors and the dream of more space, but are not actually making a move, you’re not alone. The homebuying process can be daunting, especially if you don’t know where to begin.
The truth is, starting your home search is less about Zillow and more about preparing your finances. Here is some essential mortgage advice to help you confidently take the first step toward homeownership.
When to apply for a Mortgage Loan?
This is one of the most common questions we get. You should apply for a mortgage loan before you even start looking for a home with a real estate agent.
Why? Getting pre-approved for a mortgage is the single most important step you can take. A pre-approval letter:
- Shows you are a qualified buyer and are serious about making an offer.
- Gives you a clear budget, so you know exactly what you can afford.
- Speeds up the process once you find your dream home.
At Southern Trust Mortgage, we offer a Priority Approval, meaning we can get you approved for a home loan in 24 hours, allowing you to shop for your home with confidence and makes your offer more attractive to sellers.
The Mortgage Application Process: What to Expect
Applying for a mortgage loan is simpler than you might think. You can apply for a mortgage online, in-person, or over the phone with one of our experienced Mortgage Loan Officers.
The application usually takes less than 20 minutes to complete. We’ll ask you about your:
- Finances: We’ll need information on your income, savings, and assets.
- Employment History: We’ll verify your current and past employment.
- Debt & Credit: We’ll review your debts and credit history to determine your loan eligibility.
Once your application is submitted, your dedicated loan officer will be available to answer any questions you may have and will help provide guidance during your homebuying journey. You may be asked to provide additional documentation after your application is submitted, such as pay stubs or tax returns, to verify the information.
Ready to see what you qualify for? Find a Loan Officer and Apply Today!
How to find the right home loan program for you
With so many loan options available, from FHA to VA and Conventional loans, it can be confusing to know which is right for you. Your STM Mortgage Loan Officer will be your best resource.
They will work with you one-on-one to help determine the right loan option to meet your unique homebuying situation. At Southern Trust, we offer a variety of products, competitive interest rates, and grant options to fit your needs.
For more information on different loan types available visit our Products Page.
When in doubt, ask questions!
This is your homebuying journey and we are here to make sure it goes as smoothly and stress-free as possible. We understand the homebuying process can be confusing at times and want you to be confident in your decision to buy a home.
That’s why our team is committed to answering any and every question you may have. From a simple question about your credit score to a detailed breakdown of closing costs, we are here to help you every step of the way.
