Financial Fitness

Tips for first-time home buyers
November 9, 2011

There’s never been a better time to be a first-time homebuyer, and Chris Seeley agrees. Inan article he wrote titled, “Tips for First Time Homebuyers,” the Vice President of Business Banking & Mortgage Loans for Premier Bank & Trust and ystark! member provides tips for first-time homebuyers as well as how your mortgage lender can help.

With mortgage rates low and homes plentiful, it’s an ideal time for first-time homebuyers to take the plunge. First-time homebuyers should map out the process before making a decision to make their homebuying experience a good one.

Frame your budget by prequalifying
Meet with a lender to obtain a prequalification for a loan. Prequalifying helps you get a better understanding of how much you can spend on a home. It also provides an estimate of what a monthly mortgage payment will be based on the amount borrowed. Prequalifying doesn’t mean you’re committing to a mortgage; rather, it is the first step toward a mortgage.

Keep in mind when you prequalify for a specific dollar amount, it’s wise not to spend it all on your dream home. However, a prequalification will help you narrow the price range of homes to consider purchasing.

Avoid using the Internet for a pre-approval
Many first time homebuyers turn to the Internet to search for homes and to get pre-approved for a mortgage. When you go online to get pre-approved for a mortgage, the website doing the analysis will pull your credit report. This is called an “inquiry” by the credit agencies, which indicates that you are looking for additional credit and are thinking to increase your debt. Each inquiry has a negative impact on your credit score.
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By Chris Seeley, Assistant Vice President and Mortgage Loan
Officer, Premier Bank & Trust

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Tips on How to 'Get Ahead' in 2011
February 28, 2011

With the worst recession in decades finally easing, the question many young professionals are asking is, “What now? What can I do to get back on track or even get ahead of the game?”

Here are a few tips you can use in your career, your finances, and in your personal life to position you for success today – and tomorrow.

Learn to communicate. In today’s business environment, there are so many different ways to communicate to clients and prospects. The way you communicate with them – via e-mail, by phone, or in person – often affects the outcome of your conversation. If you’re dealing with someone older, an e-mail might not cut it.

Are you dealing with someone who is a bottom-line person? Communicate in bullet points and cut to the chase. Others prefer details. By getting to know the communication style of the person you’re reaching and adapting your approach to their preference, you’ll make a stronger impression and build rapport.

Get your finances in order. Don’t add any additional debt. If you’re looking to buy your first home, don’t buy a new car until you’ve settled the mortgage. And don’t purchase any new furniture or appliances until after your mortgage loan has closed and you have comfortably moved in. (more)

Daniel R. Griffith, Vice President, Senior Trust Officer
Premier Bank & Trust

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What Every Young Professional Should Know Before Getting a Mortgage (Part I)
September 1, 2010

This is a great time to be young! Mortgage rates are at an all-time low. The cost of a good home in Stark County has fallen significantly in the last year. And, as if that's not enough, Ohio State and Federal home loan programs are available to help first-time homebuyers get an affordable mortgage. If you are like many young professionals, you are probably thinking about becoming a homeowner. Here are some things you should know before taking the plunge. (more)

By Chris Seeley, Assistant Vice President and Mortgage Loan
Officer, Premier Bank & Trust

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What Every Young Professional Should Know
Before Getting a Mortgage (Part II)
December 22, 2010

Continue reading the second part of this important series from Chris Seeley at Premier Bank & Trust - these important tips are crucial for any YP considering a mortgage. Before you get the keys to your dream home, read on! (more)