Become a Homebuyer This Spring: A Checklist for Buyers

Spring is prime time for homebuying, and there’s good news for buyers. Home inventory is rising across Ohio, which means more options and less competition than in previous years. 

Preparing to buy a home can be exciting and overwhelming all at once, especially if it’s your first time. Here’s more good news: you don’t have to start this journey alone. 

As your local, caring financial partner, Wright-Patt Credit Union^® (WPCU^®) is here to walk you through the entire process, from prepping your finances to pre-approval to closing day. 

Thinking about buying a home this spring? Use this checklist to start getting ready.  

Homebuyer Checklist: 

1. Check Your Credit — The higher your credit score, the lower your mortgage rate is likely to be, which can reduce your monthly payments and total loan cost. While scores above 740 tend to get the best rates, WPCU can work with lower scores for qualified buyers.

Quick tip: If you’re not sure where you stand, check out the free My Credit Score tool available through WPCU’s Mobile and Online Banking or meet with a WPCU Mortgage Loan Originator. We’ll help you understand your current score and what steps you can take to help improve it. 

2. Gather Paperwork — Be prepared to share documents like W-2 forms, recent pay stubs, tax returns and account statements so our Mortgage Loan Originators can look at your full financial picture. 

3. Get Pre-Approved — The housing market will likely heat up during the spring and summer months. Getting pre-approved for a mortgage loan shows sellers that you’re ready to buy, and can make your offer stand out in a competitive market.

Remember, a pre-approval shows the maximum amount you can borrow, but it’s not necessarily what you should spend. At WPCU, our goal isn’t to push you into the biggest loan possible. We take a personalized approach, working with you to create a homebuying budget that fits comfortably within your existing monthly expenses. 

4. Start Shopping with Confidence — Once you know your budget and you’re pre-approved for a mortgage loan, it’s time for the fun part: house-hunting! With your finances and paperwork in order, you’ll be ready to act quickly and make an offer when you find a home you love. 

Let’s Make Homeownership Happen 

Ready to go from browsing home listings to holding the keys to your home? 

Whenever you are in your Financial Flexibility and Freedom^® journey, WPCU is here to help you find your mortgage match with flexible home financing options. 

Meet with one of our experienced Mortgage Loan Originators to learn more, get your questions answered and take the next step to homeownership.