The process of buying a home can be overwhelming. Simply looking at listings and trying to find a good broker can be difficult and time consuming enough. When you add in the stress of securing a mortgage, it can seem impossible. By following these five steps, you can learn how easily mortgage loans in Baton Rouge can be secured with minimal headaches.
1. Do Your Research On Mortgage Loans In Baton Rouge
Trying to dive into the mortgage loan process headfirst isn’t advisable. There are so many aspects to the process that if you don’t have all your ducks in a row, you are less likely to be successful and guaranteed to be stressed. The first thing to do is to research the process of securing a mortgage loan in Baton Rouge. What type of mortgage is the best for you? What do all these mortgage terms mean? Doing your research will allow you to feel in control of the mortgage application process and being prepared will allow you to take on each step of the process with confidence and ease.
2. Do Your Homework
Now that you know more about what to expect out of the process of securing a mortgage loan in Baton Rouge, you can start doing your homework to ensure that nothing falls through the cracks. By being prepared, you will be able complete the mortgage application process efficiently and with minimal setbacks. Things to prepare include:
- How much can you afford for a down payment?
- How large of a monthly payment can you handle (including the principal, interest, and PMI)?
- Check your credit score. This will dictate the type of interest you’ll be obligated to pay.
- Research estimated closing costs.
- Research the cost of insurance for your prospective home.
- Gather all necessary documentation to be approved for a mortgage loan in Baton Rouge.
3. Connect With Your Lender
Actually getting your mortgage loan is nothing to sweat over. In fact, when you work with Essential Federal Credit Union to secure mortgage loans in Baton Rouge, you can easily apply online. There’s no need to state your case in front of a scary banker. If you have any questions, you can contact one of our friendly agents, who will happily walk you through the process. Otherwise, filling out the application is the only necessary step. If you meet the standard credit requirements, you’ll be instantly approved for a mortgage loan in Baton Rouge. Otherwise, an Essential Federal Credit Union representative will contact you within one day to go over your next steps.
4. Plan For The Future
Now that you’ve been approved for your mortgage loan in Baton Rouge, it’s time to start putting all the research and homework you’ve done into action. Start house hunting! Figure out exactly what you’re looking for and once you’ve found it, make sure to get an inspection, look into property taxes, and nail down any final closing costs.
5. Purchase Your Home
Congratulations! You did it. You have gotten through all the blood, sweat, and tears of buying a home and you have now invested in your future. While there are still plenty of logistics to navigate (packing, moving, and more), take the time to celebrate this new stage in your life. And, if you need any help or have any questions about your mortgage loan in Baton Rouge, Essential Federal Credit Union is here to help.
Ready to Secure a Mortgage Loan in Baton Rouge?
If you’re looking for further information on applying for your mortgage loan at Essential Federal Credit Union, please connect with us. Our representatives are standing by to answer any questions you may have about the application process. Give us a call at (225) 353-8238 or send us an email today!