Home Loans In Jonesboro, Arkansas

Welcome to Capital Home Mortgage Jonesboro. Located in the northeastern corner of Arkansas, Jonesboro is the fifth-largest city in the state and home to many cultural and economic activities. 

If you’re planning to own a home here, you’ll be pleased to know that the real estate market is relatively stable. In some areas, it’s cheaper to own than rent. 

With that said, if you’re a first-time homebuyer, it’s essential to know what mistakes to avoid, so you don’t end up with buyer’s remorse later.

4 Biggest First-Time Homebuyer Mistakes 

Buying your first house is a big deal. But it’s also likely to be among your most expensive purchases ever. The last thing you want is to spend all that money and go through a complex home buying process on a property that will make you miserable down the line. 

Here are the four biggest mistakes to avoid as a first-time homebuyer

1. House Hunting Before Applying For A Mortgage

Before talking to a mortgage lender, many first-time home buyers hit the housing market looking for their dream homes. In a competitive housing market, sellers will hardly take your offer seriously unless you have been pre-approved for a mortgage. Or unless you have the cash in hand. 

Before you start house hunting, be sure to get a fully underwritten mortgage pre-approval. 

2. Being Careless With Credit

Mortgage lenders will typically pull your credit information when evaluating your pre-approval request. They do this to ascertain your creditworthiness. If you’ve been careless with handling credit in the past, it can jeopardize the final loan approval. 

Stay on top of your credit. Make on-time payments to creditors and never borrow more than you can afford to repay. 

3. Overlooking Government-Insured Home Loans 

There are dozens of home loans available, and it’s essential to choose the right one since you’ll likely spend the next 10 to 30 years repaying it. As a first-time homebuyer, it’s always a good idea to consider government-backed loans — FHA, USDA, and VA home loans. 

While they have specific requirements, these financing options accept lower credit scores and minimal down payments. This makes them more accessible to first-time borrowers. 

4. Not Planning For Hidden Costs Of Homeownership

The sale price of the home you’re buying is not the only cost you’ll need to cover. Closing costs typically apply to every home purchase, and it’s essential to plan for them ahead. These include property taxes, homeowners insurance, application fees, mortgage insurance, inspections, homeowner association dues, maintenance and utilities, and more.

Jonesboro, Arkansas Mortgage Lender 

Capital Home Mortgage is a trusted, dependable Jonesboro, Arkansas mortgage lender. We work with various homebuyers to help them obtain the financing to purchase their dream homes. 

As direct mortgage lender, we make all the decisions in the loan process. This translates to quicker proper approvals, competitive rates, and generally lower fees. Our loan officers are trained to provide you with a smooth loan application process from start to finish. 

Find The Right Home Loan in Jonesboro, AR

At Capital Home Mortgage, we offer a wide selection of home loan programs, including FHA, Conventional, Jumbo, USDA guaranteed home loans, and even HUD 184 home loans for your homeownership in Jonesboro, Arkansas. 

Get started with a no-obligation quote from our loan officers by calling  (501) 588-7399. We look forward to helping you secure your next Jonesboro, AR home loan.