The idea of searching for and buying a home in Pierce County, one of the hottest and quickly growing housing markets in the country, can be daunting and overwhelming. One of the biggest questions that might pop up along the way is: how do I get a home loan in Pierce County?
Getting a loan for your home is a big step in the home buying process, but doing the leg work ahead of time will help you have a smooth decision process down the road on your journey. These tips will help you decide when, where, and how to get a home loan in Pierce County.
Before you even begin to decide where you want to live and how much you want to spend, you need to find out how much home you can afford. Use a quality, reliable mortgage calculator to get a realistic idea of what you actually can afford. Some calculators don’t factor things in like PMI and property tax, so it’s important to use a reputable source before you decide how to get a loan for a home in Pierce County.
Now that you have an idea of what you can spend each month, one of the most important things to consider before getting a home loan is where you want to move and how much you want to spend. For example, let’s say you have a budget of $400,000 and you really want to move into the Bonny Lake area of Pierce County. As of May 2018, the median list price of a home in that area was $517,745. This included a range of anywhere from $158,900 on the low side to $1.6 million on the high end. This would tell you that with your budget in this area if Pierce County, you should be able to find something in your price range, but it might be competitive with most of the inventory being closer to $500k and above.
Something else to consider while you look into how to get a home loan in Pierce County: does my target neighborhood have everything I want in it? We all want something different when it comes to the places we live. Maybe you are most interested in the quality of schools for your kids, or maybe your concern is the safety of the neighborhood around you. Research the best neighborhoods in Pierce County and see where your target area falls. This is very important in your search process because it may totally change where you want to live.
Once you have your basic needs and desires determined along with your idea of how much you can afford and what you want to spend each month, it’s time to reach out to a lender to determine how to get your loan. Getting a loan for your home is one of the biggest and most emotional experiences you may ever go through. Our staff at The Fornerette Team at Tacoma is committed to the best possible service at the lowest possible cost to the consumer.
On top of that, our combination of experience, patience, and professionalism will lead you through the process of obtaining and closing your loan. When you are deciding on how to get a home loan in Pierce County, we will be the experts to answer your questions.
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