First Time Homebuyer's Guide

What you need to know about buying your first home

First off, congratulations! Buying a home is a big step, both financially and emotionally. Since your home will likely be the largest investment you'll ever make, it's important to fully understand the process and all the mortgage loan options available. When looking for a lender, you'll want to find a partner: someone to explain all the financial details and answer any questions you have along the way, even though you've done plenty of research and become a home buying pro.

The team at North Country Savings Bank is here to help you understand the benefits of owning a home and the home buying process. Our experienced Personal Bankers and Loan Originators are here to help you from start to finish, whether you want to discuss getting your credit report in check or want a celebratory high five when you finally get the keys to your dream home. You won't find that kind of personal service at any of the big or online-only banks.

Four Reasons to Consider Buying a Home

If you're considering buying a house you probably already know why owning your home is awesome. Just in case you're still on the fence, though, here are just some of the reasons to consider buying a home.

  1. You can do anything you want to make it your own. Paint the kitchen bright pink, tear down a wall, build a pool, plant a garden and grow your own vegetables...it's all up to you. There's no landlord to come knocking down your door because you are the landlord. If you're thinking about building your new home from scratch or looking at a fixer upper consider a construction loan, which includes your mortgage and assistance from a Loan Originator to keep your project on budget.
  2. If you can afford to rent, you can afford to own. Many renters are scared to take the plunge because buying a home is a large financial investment. There are many factors to consider when buying a home, but in many cases a mortgage payment can be cheaper (or just slightly more expensive) than renting. This is especially true if you plan to stay in the same place for at least five years.
  3. Your kids/fur babies will have room to run around. Finding a home with a yard means no more 6 a.m. walks with your dog in your pajamas or worrying about children playing in the street.
  4. Still think you can't afford a home? Think again. There are also programs and incentives available that make purchasing a home more affordable. Income-eligible first-time homebuyers in St. Lawrence County can take advantage of the First-Time Homebuyer Grant offered through the North Country Housing Council. The grant covers a 20% down payment and some closing costs, and the required class and gives facts and advice about the mortgage process. There are other easy ways to save – just ask your lender what they offer. For example, paying through automatic withdraw with a checking account at North Country Savings Bank qualifies buyers for a .025% interest rate reduction. If you invest in our We See it Too CD and let the money grow for six months, you only have to have a 10% down payment – and no private mortgage insurance is required.

Still not sure if buying a home is right for you? That's okay. Call, email, or stop by your nearest branch during business hours to speak with an expert to ask all your mortgage questions.

If you are ready to buy your dream home, get the process started by applying online.