Everyone has a vision of what their dream home looks like. Some people love a spacious kitchen and others love a big, open backyard complete with a swimming pool. Once you have decided what you want in a home, you may ask yourself, what is the next step? The answer is that you must prepare for the mortgage process.

Setting yourself up for success includes preparing for the mortgage process. Lenders look for potential homebuyers who have a few things nailed down. It makes them more willing to approve the loan you are looking for.

For this post, we talked to mortgage professionals and asked them what people should work on when looking to buy a home. The sections below talk about credit scores, budgets, and the down payment on a home.

First: Assess your credit

The better your credit score, the more likely it is that you will get the home you’ve always dreamed of. According to FICO, mortgage industry most credit scores range from 300-850. Scores on the higher end of this spectrum increase your chances only securing the home you want.

Second: Determine your budget

Creating a budget is essential to make sure you can afford what you want to buy. Figure out what houses are in your price-point so that you don’t fall in love with a “forever home” outside of your budget. This tip is a life saver – believe us!

Third: Understand down payment

Down payments are one of the most important steps in buying a home, although some loan programs may not require one. A down payment typically represents a percentage of the full purchase price. This is money you should save, set aside, and have ready for the home you get approved for.

Now that you have more information on the preparation necessary for buying your dream home, in our next blog post, we will discuss the actual process. It will not be anything too difficult to follow. We will keep it straightforward to build your confidence in finding your dream home.

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate. Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on Conventional, FHA, Mortgage Refinances, Jumbo Loans, Debt Consolidation Loans, Rate and Term Refinances, Cash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.