March Madness is upon us, and while many Americans will be glued to their televisions, iPads, smart phones, and computers rooting their favorite teams, some will be getting ready for the summer home buying season.
No matter if you’re the “top seed” for your pick of mortgages and homes or a Cinderella story just looking to make your mark, these are our tips to make your lending experience a slam dunk.
Prep Before the Big Dance
If March Madness starts your mortgage “Big Dance,” then the summer selling months are your championship rounds. Regardless of whether you’re ready to buy now or further down the road, preparation will be key to your success with your lender.
Getting ready for the lending Big Dance takes some time, effort, and a little headache, but it’s well worth it when you sit down with your lender to discuss all of your options. To get prepared, start gathering your documentation. This includes tax returns, bank statements, paystubs, and any other relevant information that proves your financial situation, debts, and income.
Don’t Get Upset Early On
One of the beautiful things about March Madness is the ability of virtual unknown underdogs to overcome adversity and defeat even the strongest squads on the hardwood, but don’t get upset too early in your mortgage proceedings.
What this means is to relax, don’t worry, and roll with the proverbial punches as you navigate the mortgage landscape. Buying a house isn’t terribly difficult, but it comes with some unique challenges and stresses so don’t let the little things get you off track. Just remember that there is a mortgage solution for every buyer no matter their circumstances.
Celebrate the Victories
With that said, there are plenty of places you can get a little hung up in the process, but there are also plenty of small victories to celebrate along your home buying journey. Got approved for credit and know how much you can spend? Got pre-qualified for a low interest, low downpayment loan? What about the appraisal going through as expected?
All of these things are small victories on the path towards winning at Mortgage Madness, so at each positive turn, sit back and bask. Don’t get too caught up in your winning ways, though, and stay focused and plugged in to your mortgage process and your lender. Keep communication open and frequent and make sure you’re available to help in any way you can.
Be a Mortgage Champion
Buying a home is a lot of hard work, but if you endure to the end you will have earned your right to be called a mortgage champion. If you’re a first time homebuyer, you’ll definitely feel like you’ve accomplished something when you start moving into your new digs in a home that belongs to you.
In order to get started on your home buying journey, contact the loan officers at Tidewater Mortgage Services, Inc. The experienced staff at Tidewater will help you navigate the difficult bracket of lending by helping you find the right mortgage solution to slam dunk your mortgage.
Apply online and you could get pre-qualified and be well on your way to purchasing the home of your dreams!