Be Prepared to Buy Your Dream Home

Joe Deitch, Production Manager, Univest Bank and Trust Co.

The housing market is showing positive signs of recovery. You have probably noticed the increase in "Sold" signs in your neighborhood. Housing prices have stabilized in the last few months and home loan rates have remained at record lows. Now may be the time to buy!

If you are ready to purchase a new home or investment property, you need to be prepared as prime properties are selling quickly. We have all heard the stories of someone falling in love with their dream home only to have it sell before they are ready to make an offer. However, there are steps you can take to ensure you are ready to make a qualified offer when the time comes.

  1. Do a personal financial check-up. Get a copy of your credit report and review it for accuracy – have errors corrected and take care of any derogatory credit. Review your savings and decide how much you can use to buy the home. Gather your income information for the last two years. Your Univest mortgage consultant will review this information to identify areas of strength and to advise on areas that may need improvement.
  2. Decide when and where you want to move. Most purchase transactions require 45 to 60 days to complete, so allow enough time not to be rushed. Be sure the Realtor® you select is familiar with the area and experienced working with buyers.
  3. Determine what you want to spend. Most people have an idea of what they can afford for a monthly housing payment, but they aren’t sure how this translates to a sale price. Your Univest mortgage consultant can help you determine the price range at which you will likely be approved.
  4. Get pre-approved. Talk with a Univest mortgage consultant today so you can get pre-approved and start the journey to your new home. Call 877-723-5571 or email mortgages@univest.net.
  5. Have fun and enjoy the adventure!

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