Dart Bank Insights Podcast: First-time Mortgage Buyers

Dart Bank Insights Podcast: First-time Mortgage Buyers



[Applause] hello and welcome to dart bank insights I'm your host Brennan Andrews and today we have on Brian Clark who's the senior vice-president of mortgage banking at dart Bank Frank welcome thank you thank you can you explain a little bit about the home buying process if someone is sort of trying to buy their first home and they have no idea kind of what even where to start well I think the first thing is you want to start with a local lender first and foremost yeah that's before you even really start to thinking about homes and and what you'd like it's it's wise to get with a local lender and the reason for that is we can tell them the home buyer we can tell them how much they qualify for so you know what price range should they be looking in and then secondly we can talk them about loan programs and the corresponding down payments that would be required and do they have the available funds to be able to make that that that purchase so that's that's really step one you know we can evaluate the credit we can evaluate income we can evaluate some of the important items and get those out of the way prior to actually looking for a house and securing a home so that that would be step one after we've secured that that pre-approval or that pre-qualification then it's time to reach out to a local realtor and and have them start to show homes that are in the price range once the Realtors found a home an offer is written and and hopefully accepted and then we really begin our loan process at that point where the home is appraised the loan is underwritten by one of our underwriters and you know we move to closing typically within about 30 days from that happening if you're a younger adult looking to buy a home right now what are some tips or advice you have for them there are there are low down payment options available for any home buyer that that might qualify and I think one of the one of the biggest things that young homebuyers worry about is the lack of a down payment and we have a plethora loan programs that allow for like I said earlier as little as 0% down not everyone qualifies for that but but my advice would be seek out the advice and professional because we can certainly advise you on what's available many people are concerned about their student loan payments young young homebuyers are concerned about student loan payments we have programs that we can we can work with with student loan debt as well so it's those would probably be the two pieces of advice I would have is you know seek out a professional because we can help you through that student loan issue as well as the down payment issue that many people are concerned about excellent well that wraps up today's dark Bank insights podcast thank you Brian for being on the show look forward to having you back on great thank you very much you