Home Buying Tips

Whether you are a first-time home buyer or a long-time home owner looking to purchase a new home, this list of buying tips will help you make the best choices in a home purchase.

1. Take a look at your monthly expenses. Review your budget and figure out how much of a payment you can afford every month. Check out National Bank Of Kansas City’s Maximum Mortgage Calculator and see the numbers for yourself.
2. Begin gathering the paperwork you will need to provide the bank for the loan. This includes employment history for the last two years (W2s), one month of pay stubs, proof of other forms of income, and proof that you have money for a down payment. This final item could include three statements of your checking and savings accounts, CDs, and a 401(k). If some of the money going toward your home is a gift, you may need documentation for that as well. Depending on your situation, additional documentation may be required. All applications are subject to standard credit approval.
3. Work with National Bank Of Kansas City for a pre-approval or pre-qualification. With pre-approval you will know what the bank can lend you, and it strengthens your offer on a new home down the road.
4. Make a list of what you want in a new home purchase. Consider location, type, (i.e., condo, house, etc.) square footage, age of the home, and things such as appliances and fixtures. All of these factors will influence price and eventually your mortgage payment.
5. Learn about the different types of loans and decide on the one that will work best for you. Read about our different home loan products or call us at 1-800-375-8096 to speak with a National Bank Of Kansas City loan professional.
6. While it’s not necessary to hire a Realtor (Buyer’s Agent), he or she can help you decide what type of home is best for you, help you locate available homes, and help you negotiate and complete the purchasing process.
7. After you make an offer with something called a “Sales Contract,” you may find yourself in negotiation, Keep in mind that everything is negotiable. This is when a Realtor will be the most beneficial.
8. Begin the loan process with National Bank Of Kansas City. You will be given guidance on choosing the right loan program. Additionally, this is the time you will hire someone to do a Mechanical Inspection and an Appraisal.

To get started, contact our loan professionals at 1-800-375-8096.