Stephanie Schumacher

Jul 25 2018

5 Things to Know When Buying a Home

A house is likely the largest investment you will make in your lifetime. It requires a lot of thought, consideration, and planning before your purchase. Below I’ve outlined 5 important things to consider when purchasing your home.

  1. Avoid major changes to your financial situation.

    Making any large changes to your financials, like applying for new credit, switching jobs, or closing bank accounts, can quickly alter your debt-to-income ratio. This could cause headaches in the pre-approval process. In the months leading up to buying a home, don’t make any changes to your financials.

  2. Heavily research the city and/or neighborhood you want to join.

    Take time to get to know the area you look to move to. Know what a neighborhood is like at all times of the day by visiting during the morning, afternoon, and evening. Other considerations include crime rates, home values, area schools, and accessibility of sidewalks or nearby trails.

  3. During the home search process, keep your overall goal in mind.

    Try not to get distracted by aesthetics of potential properties like paint colors, poor landscaping maintenance, and the staging done by the sellers. These are all items that can, and probably will, change when you begin to make a property your own. Making a list of must-haves and deal-breakers can help keep your search on track.

  4. Be comfortable with your monthly mortgage payment.

    In addition to your mortgage loan and interest, don’t forget about other items that are added to your monthly bill. Things like homeowners insurance, property taxes, homeowners association dues, and private mortgage insurance may need to be factored in every month.

  5. Understand all the purchase costs.

    Upfront, be prepared to pay home inspection costs, lawyer fees, and closing costs in addition to typically having a down payment.

The home-buying process is a very exciting time and I’m here to help you through all there is to consider. If you’re interested in applying for a home loan with Hills Bank, visit to apply online for pre-approval or schedule an appointment online with a mortgage lender near you. If you have any questions, I’d be happy to answer them in the comments below.

Stephanie Schumacher

About Stephanie Schumacher

Stephanie Schumacher is a First Vice President, Mortgage Lender at Hills Bank’s Mount Vernon location. She has been with Hills Bank since 2005 helping customers with their home buying needs. Stephanie’s family is always on the go, with her husband, their combined 4 children and their Great Dane Eleanor. Stephanie volunteers with Habitat for Humanity and is an active volunteer within her Mount Vernon and Lisbon communities. Stephanie enjoys attending the various activities her children are involved with, which fills her free time. Stephanie can be reached at stephanie_schumacher.

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