Have you ever heard, “The dream of the older generation is to pay off a mortgage, but the dream of the younger generation is to get one”? How about “A man’s home is his castle”? Or “Home is where the mortgage is”? Or wait I mean, “Home is where the heart is”. It’s human nature to want a place to call our own; a place we arrange the way we want and do what we want when we’re there. A home is a place to hide our tears, make memories, and share happiness with those who mean the most to us. For many, their home is also their biggest asset and a source of pride.
Do these dreams come true without challenges? Unfortunately, no. But are the challenges worth it? Absolutely.
At Dakotaland, our desire is to make the home buying process as painless as possible; however, expect to answer A LOT of questions. There is a stack of government required paperwork to sign both at the beginning and the end of the loan process. You need to establish credit, save up for closing costs and/or a down payment, provide copies of tax returns and bank statements, and line up homeowners insurance. Sometimes it will be important for your mortgage lender to know who will be living with you and gather information about them. Although the list seems long, don’t let it overwhelm you. You won’t need all these items in place prior to visiting with us. We encourage you to apply for your mortgage before shopping for a home. It is important to know if you're pre qualified and what your ideal price range may be.
Building a home holds another set of challenges, as I well know, after going through the process two years ago. To stay on budget and simplify the process, we chose a prebuilt home. We were able to create our own floor plan, but didn’t have to decide where every outlet, light switch, and floor register would be located. (I should mention that you can typically customize those items, we just chose not to.) Overall, there are so many factors to consider and choices to make when building a home. It can be stressful, but building your dream home can also be enjoyable, you just need to be prepared. It helps to be knowledgeable about the building process up front. I would recommend doing your research before you jump into building. Once you are ready however, Dakotaland is here for you with convenient construction loans. When your home is complete and you have exactly what you want, it’s a great feeling, and we’d love to share that experience with you.
Once you complete the process of buying or building your home, inevitably it seems you start spotting repairs and/or improvements you want to make. As someone who has been through both the buying and building process, no matter how new your home is, there is always something to fix. Repairs are a lot less distressing when you know it’s your investment. We recommend planning ahead and having some savings for these repairs, but if the repairs needed exceed your savings, Dakotaland offers home improvement loans to help.
Now knowing the realities of homeownership, you’re possibly wondering- is it REALLY worth it? The answer is YES! Owning your own home is evidence in America your hard work pays off and can be rewarded. It is a responsibility to care for, and you want to ensure you are financially ready, but I truly believe your home is your ‘castle’ and a place to be proud of.
Take advantage of our home loan calculator to see how much you can afford, and which options are the best fit for you. Members and non-members can apply for a home loan or construction loan today by visiting any branch location or giving us a call, or apply any time online at www.dakotalandfcu.com.