Destination Home
Tips for Buying Your First House

Your first house will be more than just a place to live.  Although the house might be empty when you move in, it will soon be filled with the sounds of laughter as you make memories.  This is your destination…Home.    

We understand buying your first home can be extremely stressful if you are not familiar with the home-buying process. It can be easy to make mistakes. We would like to help.  Below are some of our favorite tips.

  • Do not rush making a purchase.
    • Take some down time to determine what neighborhood you want to live in. 
    • Write down what you want the most to make your house a home.
    • Make sure you are completely satisfied with the home before you make an offer.
  • Save before you buy.

Buying a home is a long-term investment that requires deliberate financial planning – here are some thoughts:

  • Try to pay off as much of your debt as possible.
  • Set aside an emergency fund. 
  • Try to have at least 10% set aside for a down payment.   
  • Do not buy more than you can realistically afford.
  • Keep a list of all the things you know you need in your home. 
  • Consider how much space you really need.
  • Share this with your real estate agent to see what they can find that fits your budget.   
  • Budget for all costs, including closing costs, property taxes, and insurance.

Expenses for homes include more than just your mortgage payment, so be prepared.Sit down and make a budget that includes all costs beforehand so you know how much the entire investment will be.

  • Apply for a mortgage with a bank you trust.

It is important to find a bank that cares about you, not just the money you are borrowing. Wallkill Valley Federal Savings and Loan believes in the importance of building relationships with their customers.We understand loan products should not be a one size fits all, which is why we get to know you and your needs so that we can help you make fiscally responsible decisions.And it doesn’t stop there, our entire mortgage process is done in house including approvals.

  • Get all your paperwork in order.
    The loan process often starts with a pre-approval.  Our loan process is streamlined and can even be started on-line here.  Once you are ready to start, give us a call.  Don’t know what information you need to gather in order to get the process started?  We’ve got a blog article that lists what you need, here.

At Wallkill Valley Federal Savings and Loan, we want to help you reach your destination.  If a home purchase is in your future, give our Senior Residential Loan Officer, Melissa Flickenschild (NMLS# 524987) a call at 845-895-2051 x226. You can also email her at mflickenschild@wallkill.com. She would be happy to help you get started in the process of home ownership. Wallkill Valley Federal Savings & Loan is an Equal Opportunity Housing Lender.