Becoming a First-time Homebuyer
What you should know before buying your first home.
Making the leap from "renter" to "owner" can be more complicated than it seems. Before you're handed the keys to your new home, there are several options to consider, such as saving for your down payment, getting a loan pre-approval, calculating your monthly payments, and researching loan rates and terms, for starters.
Thankfully, you've got experts on your side who can get you headed in the right direction, no matter what your homeownership dreams might be. Before you fill out a mortgage application, make sure you're on-track with our suite of mortgage calculators, apply for your mortgage pre-approval, or get to know a Mortgage Loan Officer in your area.
Rent vs. Buy Calculator
Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes and monthly payments to help you make a decision between these two options. This report is based on the original purchase price, fees and taxes payable at that time. Insurance and tax costs can fluctuate from year to year.
Take a closer look at our Rent vs. Buy Calculator When it comes to your first mortgage, you have options.
Podcast - Accumulating a Down Payment for Your First Home
Unlike interest rates, property taxes and insurance rates, you decide how much you borrow and therefore how large your monthly mortgage payments will be.
Find Out More
Stay on track: Mortgage Application ChecklistUnderstanding Mortgage Lingo
There are many terms associated with the mortgage process. Today, we're joined by Chris Boland, Vice President of Consumer Lending here at North Shore Bank, who will shed some light on the words and phrases you might hear when applying for a new home loan.
Watch the video to learn more.
Still have questions?
Contact us with additional questions: Email | 877-672-2265