Prequalification… the First Step to Buying a Home

If home ownership is your goal, getting prequalified is an important first step— and your local community bank is a great place to start.

Posted on in Buying A Home

excited house family

by Pam Young
Vice President, Business Development
NMLS#480448

Prequalification tells you how much you can afford to borrow. At First Columbia Bank, the prequalification process can be done at your convenience in person, over the phone or online. Often times, in as little as 30 minutes, you’ll know just how much you can afford to borrow.

To complete a prequalification, the Bank will review your income and credit score. We’ll also take the time to help you fully understand your score, what it means, and how it factors into the lending process. For some, credit scores can be an issue. In these cases, we are here to suggest ways to improve your score. Looking out for homebuyers is just part of the home buying guidance we offer as a local bank.

Once you have been prequalified, you’re now in a good position to begin a home search with your realtor. Focusing your search in the ideal price range for you makes the home buying process that much easier and faster.

When you meet with a First Columbia mortgage professional, we will show you the different financing programs available to help with a down payment and closing costs.

Your First Columbia mortgage professional will be sure to explain the entire mortgage application and closing process and make certain you know all the costs to expect.

Another important advantage to homebuyers is that you always have a locally-based lending professional to answer your questions and guide you through the home-buying process. In our view, that’s the big difference between a local bank like ours and those online lenders. Plus, being a community bank gives us more flexibility in lending decisions. It’s these advantages, coupled with our competitive rates, that make First Columbia the go-to bank for homebuyers and number one mortgage lender in Columbia County.1

When you’re ready for the next step toward home ownership, call me, or any of our mortgage professionals at 570.387.7197.

 

1 Based on mortgages closed in Columbia County since 2012