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5 To-Dos Before Buying a Home

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5 To-Dos Before Buying a Home

Are you about to begin the hunt for your future home? We understand that the home buying process can become overwhelming, which is why we’d like to offer you a little insight. Start your home buying journey off right by completing this checklist!

  1. Strengthen your credit.

A 620 FICO score means you can get a mortgage, but that doesn’t mean you’ll want to. According to recent data from, someone with the minimum credit score can expect to pay over $82,000 more in interest over the life of a $250,000, 30-year mortgage than a person with a 760-plus score. Working on making your credit higher, such as paying bills on time, will help lower your interest and save you some big bucks.

  1. Speak with your local Loan Officer.

This is a very important step, and sadly, it’s often not done until after the process has begun. Meeting and opening a dialogue with a Loan Officer can help you understand the loan products that are offered, the banks application process and the timeline of how things may occur if you go through with a purchase. It also allows the Bank to get to know you better and show you tools like our handy-dandy mortgage calculators!

  1.  Figure out how much house you can afford.

You may get preapproved for a certain amount and have a good portion of money put away in savings, so why not spend it all on a home? Even though you have the funds, be sure to think ahead to future bills and emergency expenses that will have to be paid. You’ll also need to plan on spending in the range of 1-3% of the home's price for closing costs. It’s important to downsize your budget a bit in order to make future costs and purchases feasible.

  1. Get a real estate agent.

Hiring an agent does cost money, but they will help you through every step of the way. Real estate agents will make sure all of your closing documents are in order and give you recommendations on trusted inspectors, which will take a lot of stress off of you. They supply you with the knowledge of the buying process, so you don’t miss any steps.

  1. Schedule an inspection.

Once you find your home sweet home, it’s important to cover your bases. Schedule an inspection to be sure a new HVAC system or roof isn’t in the near future. You’re going to be spending a large sum of cash, so spending a little more to have everything checked out is a good plan of action.

Congratulations! You’re now on the right track to becoming a homeowner. Bank of Louisiana offers mortgage options that fit your lifestyle. Stop in or give us a call to discuss your options today.


Bank of Louisiana

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Equal Housing Lender

NMLS #525630