The month of June brought the first wave of heat, summer-filled activities, and a bit more time spent with family. It is a period where many individuals and families prepare to conquer the second half of the year. June also happened to be National Homeownership month. With the real estate market typically blooming in the spring, the current market may be intimidating for many people who have had homebuying on their 2025 to-do list. National Homeownership month holds importance as it reminds us of the long-term benefits of homeownership and allows for a focus on proper guidance through an individual’s Homeownership journey.
As a mortgage loan officer, the concerns around rates and affordability in today’s market are a frequent conversation I am having, especially with first time homebuyers. There are questions as to “When is the right time to buy?”, “Is it even possible to buy a home?” amongst other concerns in relation to the current housing market. These doubts and fears are all valid but that is where a mortgage expert comes into the equation. There are several factors that are ultimately out of our control but that does not necessarily mean we are helpless. Instead of drowning in the “What ifs”, I encourage the navigation of the “How Can I?” instead.
When tossing the idea around of purchasing or refinancing your home, the first step is discussing your goals with a trusted mortgage professional. Whether you are intending on purchasing or refinancing, you want to make sure your lender can provide you with current insights and options to achieve your homeownership goals. This allows you to get accurate information regarding your personal situation and what you are looking to achieve. Feeling overwhelmed with the homebuying process often stems from not fully understanding it, which is where the mortgage professional steps in. A great way to gain insight is by attending a First-Time Homebuyer Workshop. These sessions tend to go over down payments, credit scores, mortgage products, and other helpful details as you begin to prepare for this journey.
Today’s market looks a little different but that should not halt your homeownership plans. There is an influx of down payment assistance programs, specially tailored mortgage products, and various workshops offered to help navigate homebuyers and existing homeowners. The hesitations most borrowers have typically have a solution or a road towards a solution. If being a homeowner is the goal, then you must identify and address any potential roadblocks to achieve that goal. Whether you are speaking directly with a mortgage professional or attending a workshop, make sure you are asking questions specific to your situation and discussing your end goal.
Attending a Homebuyer Workshop and getting yourself informed is an important step but it is not the end of the road. Action must follow after getting properly informed. For many home buyers, the process of purchasing a home really begins much earlier than when an offer is placed on a home. Performing a financial self-assessment can be a crucial step in setting yourself up for success. Analyzing your current assets, existing debts, and possibly an estimated mortgage payment, can help you break down your financial readiness. This assessment will provide a good base line to work with once you are ready to begin the process with a mortgage professional. Explore our mortgage loan calculator to see what an estimated mortgage payment could look like.
Assessing your overall finances can also provide a starting point to create a sustainable budget as you prepare to make a big financial decision. Saving for a large purchase, like a home, does require discipline and certain sacrifices. However, having a budget to guide you, coupled with an existing savings goal, can make the financial aspect of your future home purchase less daunting. Reach out to your trusted mortgage professional to discuss any potential tips when creating your budget and your savings plan to ensure you are on the right track.
Homeownership is a large part of the American Dream, and we were reminded of this during June’s Homeownership Month. A home purchase is a large investment that comes with important responsibilities and long-term benefits. Homeownership opens the door for generational wealth across families and allows for the expansion of assets. Not only does this provide you with stability but also creates an opportunity for an increased quality of life. Take the first step in unlocking your future home by contacting a trusted mortgage lender here at NDBT.
