As the home buying market begins to cool off with the weather, some of you may have the “we should’ve been more prepared this year” feeling if you were thinking about finding a new home.

If you're hoping to sign on the dotted line for a new home
next spring or summer, your work starts now!

However, there is some good news Lincoln Savings Bank wants to share with you: there are steps you can take right now to make sure you’re ready for next spring and summer’s housing rush. While these things may take awhile to get in place, you’ll have all fall and winter to make sure you’re prepared to buy a home come next spring or summer.

Check your credit report- you want to get a great mortgage rate, and a solid credit score is the easiest way to do that. Check for errors or marks against your credit and get them taken care of.

Save in every way imaginable- drop the HBO, Netflix, eating out and other unnecessary costs. The higher down payment you can make on your home, the more financing options you’ll have.

Find out how much home you can afford- the worst thing you can do is overextend yourself financially. Look at your debt-to-income ratio; if it’s over 36, you need to start reducing your debt immediately.

Get pre-approved- it may sound like this step will cost you time, but it’s actually a time-saver.  By knowing ahead of time how much money you are approved to borrow, you will save you and your real estate agent a lot of time looking at properties that may not fit your budget.  Visit www.lsbmortgage.com to learn more about mortgages and even apply online in just a few minutes.

Find a real estate agent- not to sound biased, but the folks at Century 21 LSB Real Estate are amazing at their jobs. Your agent is your representative in helping you find a home, so having someone you trust is a huge bonus.

Keep assessing your financials and the housing market- there’s nothing wrong with staying current. You can order your FICO scores without hurting them, and keeping an eye on the national housing market is smart.

When it comes to buying a home, follow the adage of “failing to prepare is preparing to fail.” The process is complex enough, so adding more difficulty just isn’t necessary. Lincoln Savings Bank and Century 21 LSB RealEstate would be more than happy to help you on your journey to finding a new home, so get in touch with us to get started.  

Century 21 LSB Real Estate agents provide superior service in finding you a home.

As a community bank serving Central and Northeast Iowa, we are proud to help our neighbors and others in our communities work toward purchasing a new home. Through a partnership between Lincoln Savings Bank and real estate company Century 21, we are also able to help people find the home that is perfect for them and their family.

Operating as a franchisee, Century 21 LSB Real Estate manages two different offices in the Cedar Valley in an effort to help people find the home of their dreams. We are continually growing our services to become the leader in the Cedar Valley real estate market.

As a Century 21 franchisee, we always enjoy taking some time to point out sponsorships and other public highlights of our real estate partner. The most noticeable and exciting development for Century 21 has been the sponsorship of the no. 21 Indy Racing League car that will be driven by Josef Newgarden in the 2013 Indianapolis 500 on May 26.

“Our sponsorship of the No. 21 car in the Indianapolis 500 provides another outstanding opportunity to highlight our Smarter. Bolder. Faster. campaign,” said Bev Thorne, chief marketing officer, Century 21 Real Estate LLC.  “Whether it’s the Super Bowl, the Olympics, U.S. Soccer or the Indy 500, we want to showcase the capabilities of our sales professionals in front of the largest audience possible.”

Not only are we excited about how this marketing showcases the abilities of the Century 21 LSB Real Estate agents, but it also goes to show the type of resources that are available to them through Century 21.

We can’t wait to see Newgarden and the no. 21 Century 21 Indy car flying around the Indianapolis Motor Speedway on May 26! We also look forward to helping you find a home that suits you and your family, so be sure to contact us today!

Now is a great time to purchase or refinance if you haven’t done so already. Rates on 30-year mortgages have fallen since last spring to the lowest levels in decades. The rate decline is largely a result of investors shifting money into the safety of government-backed Treasury bonds, lowering their yield. Mortgage rates tend to track bond yields.

Mortgage Industry Trends
Mortgage buyer Freddie Mac compiles historical data on average mortgage rates across the industry, called the weekly Primary Mortgage Market Survey (PMMS). The data from that survey illustrates the current trend in rates:

• 30-Year Fixed-Rate Mortgages: For the week of April 8, the industry average for a 30-year fixed rate mortgage was at 5.21 percent. Last week (October 14), the rate dropped to 4.19 percent. That’s a historical low dating back to 1971.
• 15-Year Fixed-Rate Mortgages: For the week of April 8, the industry average for a 15-year fixed rate mortgage was at 4.52 percent. Last week (October 14), the rate dropped to 3.62 percent. That’s the lowest on record dating back to 1991.

Mortgages with LSB!
Contact LSB for actual rates and to determine if a refinance is right for you. We have a staff of experienced mortgage experts eager to help, and you can be assured they will be diligent in putting you in a mortgage program you can afford. Or, visit www.LSBmortgage.com to apply online.

LSB Mortgage
999 Home Plaza, Suite 301
Waterloo, IA 50701
Phone (319) 433-3777