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Buying or selling a home is one of life’s biggest milestones — and with the right support, it can feel a lot less overwhelming.
Enter: Independent mortgage brokers. They are local, licensed home loan experts who can guide you every step of the way from checking your credit to getting preapproved, comparing loan options, and setting a realistic budget. Unlike the big banks, they’re also small business owners who know your market and provide one-on-one guidance tailored to your needs.
Even with inflation, interest rates, and tariffs continuing to shake up markets, there are still plenty of opportunities for well-prepared buyers — especially with a trusted mortgage broker in your corner.
National housing data can give you a snapshot of housing availability and affordability, but when it comes to buying a home, your best resource is an expert who truly understands the local market.
Here are five more best practices to help guide your homebuying journey:
1. Decide whether this is the right time for you to buy a home
Buying a home is both a financial decision and a lifestyle choice. Before you start house hunting, ask yourself if you’re ready to stay in one place for the long term. On average, homeowners stay in their homes for nearly 12 years, so if the idea of settling into a place and becoming part of a community feels exciting, this could be an ideal time to buy.
It’s also worth considering your job security and personal finances. If you’re in a steady role and have some savings built up, homeownership might be a good next step. Just keep in mind that owning a home comes with responsibilities. Buyers need to prepare for the time and sometimes extra money it takes to care for a home, including things like lawn care, snow removal, and occasional repairs to appliances.
If homeownership matches your lifestyle and long-term goals, the next step is to assess if it’s a good financial fit.
2. Define your budget, check your credit score, and get preapproved
Before touring homes, it’s best to get a clear picture of your finances. That starts with understanding what you can realistically afford, checking your credit score, and getting preapproved for a loan. A mortgage broker can help with all of these things.
Mortgage brokers will also help you budget for the full cost of ownership — property taxes, insurance, HOA dues — and even explore down payment assistance options. Finding a mortgage broker who understands your market is easier with the help of Mortgage Matchup.
Your credit score influences the type of loan you can qualify for and the interest rate you’ll pay. An independent mortgage broker will walk you through your credit report, make sure everything looks accurate, and lay out your borrowing power.
Because they work with wholesale lenders, brokers often have access to lower rates, meaning lower monthly payments and more buying power. In fact, working with a broker could potentially save you thousands over the life of your loan.*
And when it’s time to make an offer, having a fully documented mortgage preapproval in hand shows sellers you’re serious and can give you a competitive edge.
3. Interview real estate agents for local insight
Your mortgage broker can help you find a trusted real estate agent in your area. As a team, they will help you put together a strong offer.
It’s a smart move to work with a real estate agent who knows your preferred neighborhoods and can advocate for your interests. A knowledgeable, trustworthy agent will offer their expert guidance and help you compare and evaluate different properties based on your needs.
4. Set clear priorities based on your budget
The more you think about what matters most to you — such as being close to parks or restaurants, a school district, a move-in ready home, a large kitchen, or an expansive outdoor space — the better prepared you are to narrow your choice of homes. Based on the budget that your mortgage broker helped you establish, it’ll be easier to zero in on the homes that check your boxes.
5. Explore your options
Talk with your real estate agent about the types of homes in your area that might fit your budget, including newly built homes, and whether builders offer incentives to buyers. Ongoing costs like utility bills and homeowners’ insurance could be lower for energy-efficient homes built to withstand natural disasters.
Also ask about fixer-uppers or properties with rentable space that could offset your mortgage. Your mortgage broker can guide you through the loan products available for each type of property.
And remember: Just like every home is different, so is every mortgage. Loan types come with their own eligibility criteria, and some may offer benefits like reduced down payments — in some cases, as low as 1%.
That’s why partnering with an independent mortgage broker from the start is one of the smartest moves you can make in the homebuying journey. They’ll break down your options, help you steer clear of common pitfalls, and make sure you’re ready to confidently close on your dream home when the time is right.
Start your search for a local home loan expert at MortgageMatchup.com.
This post was created by Insider Studios with Mortgage Matchup.
*Polygon Research. $10,662 average savings based on the full loan term, APR estimate using HMDA rate spread, APOR and single-family agency data for a standard segment of the 2023 mortgage market with 30-YR fixed non-bank purchase agency loans and a $400,000 reference loan value.
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