(Photo by Tierra Mallorca on Unsplash)

By Michelle Fields-Hall, Director, Community Lending, George Mason Mortgage, LLC

With the economic challenges brought on by COVID and interest hikes, borrowers have discovered that rental prices have increased. However, there are still great ways to turn the dream of homeownership into reality!

George Mason Mortgage helps individuals and families reach their home ownership goals. We serve our clients with the products, technology and experience to provide the best solutions for their unique financial circumstances.

Start by determining how much you will need for a down payment. Create a budget and calculate how much you can realistically save each month – that will help you gauge when you’ll be ready to transition from renter to homeowner. 

If you need help figuring out what your down payment would be, contact me for assistance. The earlier you speak to a professional, the better set for success you will be. We will work with you to find the right balance between what you can afford and what you can qualify for – all custom tailored for your specific story.

There are an array of first-time homebuyer programs with low or no down payment options available and even grants to assist with the up-front costs. George Mason Mortgage now offers two new grant programs of their own, Welcome Home1 and Journey Home2

The best way to approach a real estate agent is with a mortgage pre-qualification in hand! This shows that you are ready and able to buy and will give you and your realtor an idea of homes you can afford. 

Searching for a home online is a convenient method to find the home of your dreams.  Once you have found a home with your Realtor, they can provide additional information as well as make an appointment to view the home. Make sure the home meets all the “must haves” on your list. Once you have found your dream home with your Realtor, you will submit an offer.

Having navigated decades of changing economic environments, our employees have the experience and are able to provide flexible, personalized solutions you can only get from a nationally recognized, local lender supported by the strength and stability of United Bank.

We are honored to be a trusted mortgage lender with a dedicated local presence throughout the communities we serve.

Contact me today to help you find the right fit for your unique financial story and to get started on your journey home!

Help us Continue to tell OUR Story and join the AFRO family as a member – subscribers are now members!  Join here!