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4 Stress-Reducing Mortgage Tips

View of Wilmington North Carolina from across the river

Buying a house is one of the biggest purchases you will ever make, so it makes sense that it might bring along some extra stress with it. However, there are ways you can cut the anxiety and get through the process with fewer bumps in the road. Here are four tips to help keep the stress at bay!

Find A Loan Officer

The most stressful part of the mortgage process is feeling uninformed on how it works. By understanding the process, you’ll feel more “in-the-know” throughout each phase. This starts with finding an experienced Loan Officer that can explain the process to you, help you explore your mortgage options, and prep your documents to apply for a home loan.

Take A Look at Your Credit Score

Properly assessing your credit early on will significantly lower your stress levels during the mortgage process. Whether your score is good to move forward or if you need to take action to improve it, uncovering these findings early will still lower your stress levels since you are aware of any potential obstacles that may surface during the mortgage process.

Get Pre-Qualified or Pre-Approved for a Mortgage

Another way to reduce the stress is to get pre-qualified or pre-approved. Pre-qualification starts with speaking to an experienced loan officer and providing information on your credit, income, assets and debts. Once the loan officer has all this data, they can turn around an estimate on how much home you can afford. Pre-approval requires documentation and verification of your income, assets, and debts on top of a credit check. Both help estimate the loan amount that you will likely qualify for so you are ready to hit the house-hunting market to find the perfect home within your price range!

Plan Your Budget

Nothing creates more stress than worrying about your account balances in the bank. Making a budget will save you tons of stress during the mortgage process by defining what you can afford, including list price, taxes, fees, and insurance costs associated with your future home. You should also find out annual estimates for heating, cooling, electric, etc. so you can plan on taking on those costs as well. And don’t forget your other debts that you might be dealing with including car loans, credit cards, etc.

While there are plenty of things you can do to reduce the stress in buying a house, there is nothing like having a great relationship with your lender to help you feel confident and supported during the mortgage process. If you are thinking about buying a house, contact one of our experienced Loan Officers today!

5 Reasons to Buy a House this Winter

While it is not the popular time of the year for house hunting, the home-buying market can work in your favor, with timing on your side, competition at a minimum, and real estate agents and other housing professionals readily available during the winter season.


Equal Housing Lender LogoALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org)
Licensed in AL, CO, DC, FL, GA (License #42101), KY, MD, NC, PA, SC, TN, VA, WV | 308 Market St SE, Roanoke, VA 24011

Equal Housing Lender LogoALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org)
Licensed in AL, CO, DC, FL, GA (License #42101), KY, MD, NC, PA, SC, TN, VA, WV | 308 Market St SE, Roanoke, VA 24011