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Whether you are buying your first home or it’s your third time around, there are always several points you need to keep in mind before you say “yes” to the dream home. Prepping your finances for home buying season is the most important thing you can do before you buy a home.

Iowa State Bank wants to help make your home buying experience easy with our mortgage and rate watch options. Now, we have a few tips for you to prep your finances for home buying season.

Tips for Prepping your Finances:

  1. Think before you begin the search. Thinking ahead to home buying season can be exciting and overwhelming. Before you get to the initial search for a house and a loan, crunch the numbers. Consider the following:
  • How much are you able to afford for a down payment?
  • What can you put into home repairs?
  • What are monthly utilities at the property?
  • What percent of your monthly income will go towards the home loan?
  • What are the yearly property taxes?
  1. Analyze your credit score. There is nothing worse than getting excited to start the home buying process to realize your credit score isn’t up to par with the loan you need. Be proactive and check your credit score now.There are many ways to start rebuilding your credit score in time for home buying season.
  2. Plan for unknown expenses. With all home buying experiences, there will be surprises. Always figure in the cost of closing on the house and moving expenses. You don’t want to be stuck with the burden of extra costs that were not planned for.

Iowa State Bank will be keeping you informed throughout the home buying season with tips to make the process easier for you. Talk to one of our loan officers today about our mortgage rates and offers.