Before the Internet, people dialed 4-1-1 on their phones for information. Those were some powerful numbers! Now anyone with a smartphone can Google for the information they need. But even with these tools, finding your ideal home in Baton Rouge can be difficult. The process involves so many decisions (and so many numbers!). You not only have to find the house itself. You have to find a realtor, a mortgage lender, a title agent, and make hundreds of other decisions. Finding a mortgage lender in Baton Rouge doesn’t have to be some massive undertaking if done correctly.
The Math On Mortgage
Was math your least-favorite subject in school? Well, we have some bad news for you. The home search and mortgage process is full of numbers. Square footage, credit scores, prices, percentages, estimates, down payments, and more. But you can keep your head from spinning with just taking it all one step at a time. In most cases, it takes some time to find the right house for you.
House Shopping in Louisiana
If you’re looking to finally buy a home of your own in the Bayou State, it’s time to do some research. According to Business Insider, the median listing price of houses in Louisiana is $212,000. The average price per square foot is $121. That’s below the national average and makes Louisiana rank 38th on the list. (If you’re curious, Hawaii is the most expensive state to buy a home. They average more than $600K there!) Depending on your budget and needs, this can seem encouraging!
Baton Rouge Bound
The Baton Rouge Advocate recently stated that the average sale price of a home in the metro area is $233,504. There are more than 500 realtors in Baton Rouge. It can seem like there are just as many options for mortgage lenders as well. The entity that gives you a mortgage known is known as your lender. Many different types of financial institutions can be lenders. Banks, mortgage companies, brokers, and credit unions are among them. And each of these categories can have a variety of different options. Depending on your situation
Look To Your Credit Union
Before you even start your home search, it might help to meet first with a mortgage lender. Getting pre-approved can help the process go more smoothly. For pre-approval, a lender checks your history and states they will give you a loan. Your financial history includes your employment, credit reports, income, and savings. This check is true of any lender. If you choose to work with a credit union as your lender, there are a few differentiators. Credit unions are owned by their members. You’re partnering with friends and neighbors instead of a faceless financial group.
The Essential Mortgage Lender
We mean essential in two ways here. It’s the name of our company–Essential Federal Credit Union. And, unless you have the cash on hand to buy a home, a mortgage lender is essential in your home-buying process. Want to learn more about our mortgage loans? Give us a call at 1.888.369.2207, contact us online, or stop by one of our seven locations.