Buying your first home is an exciting milestone, but it can also feel overwhelming. You’re not just finding a place to live; you’re making one of the most significant financial decisions of your life. With so much information out there, it’s easy to get lost. The good news is that a clear plan can make the process much smoother.

We’ve broken down the journey into three essential tips. These foundational steps will help you navigate the market with confidence, stay in control of your finances, and find a home that truly fits your life.

1. Get Pre-Approved Before You Shop

It’s tempting to jump straight into browsing listings and touring open houses. However, the most essential first step happens before you even look at a single property: getting pre-approved for a mortgage. A pre-approval is an official letter from a lender stating the amount of money they are willing to lend you.

Why Pre-Approval Matters

Getting pre-approved does more than tell you your budget. It shows sellers and real estate agents that you are a serious, qualified buyer. In a competitive market, an offer from a pre-approved buyer carries much more weight than one from someone who hasn’t secured their financing. It can be the deciding factor that gets your offer accepted.

A pre-approval also helps you move quickly. When you find the right home, you can make an offer immediately without scrambling to get your financial documents in order.

What Lenders Look For

To determine your loan amount, lenders will evaluate your financial health. They primarily focus on three key areas:

• Credit Score: This number reflects your history of paying back debts. A higher score generally helps you qualify for a better interest rate.
• Proof of Income: Lenders require verification of a stable and reliable income. You’ll typically provide recent pay stubs, W-2 forms, and tax returns.
• Debt-to-Income (DTI) Ratio: This is the percentage of your gross monthly income that goes toward paying your monthly debts (like car loans, student loans, and credit card payments). Lenders use it to ensure you can comfortably handle a mortgage payment.

2. Budget Beyond the Down Payment

Your down payment is a significant expense, but it’s only one piece of the home-buying puzzle. Many first-time buyers are surprised by the other costs required to purchase a home. Budgeting for these additional expenses is critical to avoid financial stress.

Understanding Closing Costs

Closing costs are the fees you pay to finalize your real estate transaction. These typically range from 2% to 5% of the total loan amount. For a $300,000 home, that could mean an extra $6,000 to $15,000.

Examples of typical closing costs include:

• Lender Fees: Application fees, loan origination fees, and points to lower your interest rate.
• Appraisal Fee: Covers the cost of a professional appraisal to determine the home’s market value.
• Inspection Fee: Covers a thorough home inspection to check for potential issues.
• Title Insurance: Protects you and the lender from claims against the property’s title.
• Escrow Fees: Paid to the title or escrow company for managing the closing process.

Planning for Ongoing Costs

Once you have the keys, you become responsible for all the costs of homeownership. These go far beyond your monthly mortgage payment. Be sure to budget for:

• Property Taxes: Paid annually or semi-annually to your local government.
• Homeowners Insurance: Protects your home and belongings from damage or loss due to theft.
• HOA Fees: If your home is in a homeowners association, you’ll pay monthly or annual dues for community maintenance.
• Maintenance & Repairs: Experts recommend setting aside 1% to 3% of your home’s value each year for upkeep and unexpected repairs, like a new water heater or roof leak.

3. Separate Your Needs from Your Wants

Every buyer has a dream home in mind, complete with a perfect kitchen and a beautiful backyard. But in the real world, compromise is almost always necessary. The key is to distinguish your non-negotiable “needs” from your flexible “wants.”

How to Define Your Non-Negotiables

Your needs are the core features you cannot live without. To identify them, think about your daily life and long-term goals. Consider things like:

• Location: An acceptable commute time to work.
• Space: The minimum number of bedrooms and bathrooms for your family.
• Layout: A single-story home for accessibility or a fenced yard for a pet.

Try to limit your list to three absolute must-haves. This focus helps you efficiently evaluate properties and avoid getting distracted by cosmetic features that can be changed later.

Evaluating Listings with a Clear Mind

Once you have your list of needs, you can be more flexible with your wants. A want might be hardwood floors, granite countertops, or a two-car garage. While these are great to have, they aren’t deal-breakers. You might find a home that meets all your needs, but it may have outdated carpet. Remember, you can always replace flooring, but you can’t easily change a home’s location or add a bedroom. This framework helps you recognize a home with good bones and great potential, even if it isn’t perfect on the first day.

Your Path to Homeownership

Buying your first home is a journey, not a sprint. By getting pre-approved, budgeting for all costs, and defining your priorities, you can move forward with a clear and confident strategy. Start by setting a realistic timeline, and give us a call. We can help you navigate the home-buying process successfully.

Dena & Dave Plane

(928) 830-6976

Buying a home is an exciting milestone, but it comes with complexities—especially when it comes to securing a mortgage. Your lender plays a crucial role in the process, and a strong relationship with them can make everything smoother and more efficient.  

Lender satisfaction doesn’t just help you get approved for a loan; it can lead to better terms, faster processing times, and fewer obstacles. By staying organized, proactive, and informed, you’ll not only keep your lender happy but also improve your overall home-buying experience. Here’s how.  

1. Keep Your Credit in Great Shape  

Your credit score is one of the first things lenders will assess when considering your mortgage application. A higher credit score shows lenders that you’re a trustworthy borrower, which makes their job easier.  

Practical steps to maintain or improve your credit score:  

• Pay bills on time: Late payments, especially on loans or credit cards, can lower your score significantly.  
• Avoid large new debts: Don’t open new credit accounts or take on significant debt right before applying for a mortgage.  
• Monitor your credit report: Check for errors or discrepancies that could be hurting your score. You can access free reports annually through services like AnnualCreditReport.com.  
• Aim for low credit utilization: Lenders typically prefer to see your credit card balances below 30% of your total credit limit.  

By managing your credit responsibly, you’ll help ensure your lender views your application favorably.  

2. Be Transparent About Your Financial Situation  

Honesty is critical when working with a lender. Whether it’s your income, assets, debts, or liabilities, lenders need an accurate picture of your financial health to determine the best loan options for you. Withholding or misrepresenting information can slow down the process—or even lead to loan denial.  

What you can do:

• Organize financial documents in advance: Gather pay stubs, tax returns, bank statements, and records of other assets.  
• Disclose all debts: Even if it’s a personal loan from a family member, share it with your lender.  
• Be upfront about changes in income or employment: If you’ve recently switched jobs or expect a shift in income, inform your lender right away.  

Transparency builds trust, and a lender who trusts you will be more likely to advocate for your loan application.  

3. Respond Promptly to Lender Requests  

Mortgage applications involve plenty of paperwork and periodic follow-ups. Delays in providing documentation can stall your loan approval and may reflect poorly on your reliability as a borrower.  

Best practices for staying on top of requests:

• Check your email daily: Lenders often communicate via email, so a quick response can keep things moving.  
• Prioritize deadlines: If your lender sets a deadline for submitting documents, aim to provide them ahead of time.  
• Ask questions when needed: If you’re unclear about a request, don’t hesitate to ask for clarification. It’s better to ask up front than submit incomplete or incorrect information.  

Your timeliness not only keeps the process efficient but also showcases your commitment to a successful loan application.  

4. Understand the Terms of Your Loan  

A mortgage is a long-term financial commitment, and fully understanding the terms of your loan will help you stay on track while building confidence with your lender. Lenders want to know you’re making informed decisions, and knowledge is power.  

Key loan aspects to focus on:

• Interest rates: Understand whether your loan has a fixed or variable rate and how it might affect your monthly payments.  
• Loan duration: Know whether you’re signing up for a 15-year or 30-year loan—and how that impacts total costs.  
• Closing costs: Review the list of fees and expenses associated with closing and ask your lender to explain any that seem unclear.  
• Prepayment penalties: Some loans charge a fee for paying ahead of schedule, so confirm this detail with your lender.  

When you show that you clearly understand your loan terms, you’re sending a strong signal that you’re a responsible borrower.  

5. Keep Communication Open  

Communication is the foundation of a successful relationship with your lender. Proactive, two-way communication helps resolve potential issues before they snowball into bigger problems.  

Tips for effective communication:

• Provide updates proactively: If there are any changes in your situation—like a delay in funds or a job change—notify your lender immediately.  
• Stay accessible: Give your lender multiple ways to reach you (phone, email) and respond quickly to their messages.  
• Be courteous and professional: Remember, your lender is your partner in this process. A positive, respectful attitude helps foster goodwill.  

Good communication ensures that you’re always on the same page, reducing stress for both you and your lender.  

6. Avoid Making Big Financial Changes During the Process  

Lenders look for stability, and significant financial changes during the mortgage process can raise red flags. For example, switching jobs, making large purchases, or opening new lines of credit can complicate your application and delay approval.  

How to maintain financial consistency:

• Delay major purchases: Wait to buy that new car or furniture set until after closing.  
• Avoid career changes: If possible, stay in your current job until your loan is finalized.  
• Keep your financial habits consistent: Continue paying bills on time and avoid transferring large sums of money between accounts.  

Staying financially predictable during the mortgage process will reassure your lender that you’re a stable and trustworthy borrower.  

7. Work with the Right Mortgage Company  

The right mortgage lender can make all the difference in your home-buying experience. Take the time to research, compare options, and choose a company known for excellent service and transparent communication.  

What to look for in a lender:

• Reputation: Read customer reviews and testimonials to ensure the company has a history of satisfied clients.  
• Responsiveness: Choose a lender who values clear, prompt communication.  
• Loan options: Look for a company that offers products tailored to your needs.  
• Transparency: Your lender should be upfront about fees, terms, and timelines.  

Partnering with a reliable lender increases the likelihood of a smooth, stress-free process for both parties.  

Final Thoughts  

A strong, cooperative relationship with your lender is key to a successful home-buying experience. By taking steps like maintaining good credit, being open about your finances, and responding promptly to requests, you’ll set the tone for a smooth process—all while keeping your lender satisfied.  

Remember, the home-buying process is a partnership, and both you and your lender have a shared goal of getting you into your new home. Are you ready to make a move? Let us help you find your next home!  Dena and Dave Plane (928) 830-6976.

There are numerous rollercoasters in life, and buying a home can be one of them. But, when done correctly, the ‘real estate rollercoaster’ doesn’t need to be terrifying. Instead, a real estate transaction should resemble riding the gentle, curvy track at the carnival.  

There are myths about the home shopping experience that I like to educate my clients about when it comes to buying a home. As a realtor, my goal is to save both buyers and sellers pain and stress. I strive to make the home-buying process end with a smooth transaction and avoid the stressful experience. The tips below, plus several other tools I have up my sleeve, will help you make a successful home purchase.

Myth #1: “That house has been on the market so long I bet we can easily work the seller down.”

Maybe, but not necessarily. Days on the Market, abbreviated as DOM, refers to the time between listing a home on the Multiple Listing Service (MLS) and the date it is sold or removed from the market. According to Realtor.com, in 2025, the average days a house was on the market in Prescott was 43 days. A home on the market for 100 days isn’t necessarily going to go for a ‘bargain’ just because of the days on the market. Exceptionally high days on the market could mean almost anything. The seller could be unrealistic about their price. Alternatively, the seller may not be particularly motivated to sell for emotional or other personal reasons. At this point, the experience and training of your realtor are beneficial to a successful transaction.

Myth #2: “I want to look at foreclosed homes because they’re a real bargain, and the banks need to unload them.”

Unfortunately, there are several reasons a home may arrive in foreclosure. It could be a death in the family, illness, or divorce. Once the house is in the hands of the banks, the rules of negotiation change. It may be challenging to determine why a bank rejects an offer for a foreclosed or distressed property. 

Many distressed sale transactions can be more lengthy and stressful than regular sales. If you’re looking for a bargain or a fixer-upper, please don’t hesitate to contact us. We can set up a personalized search that will alert you when inventory that meets your criteria becomes available.

Myth #3: “I liked this house a lot, but with this market, I bet it will still be there if I decide to buy it.”

It is excruciating to see a client fall in love with a home but fail to take the necessary steps to purchase it. If you fall in love with it, someone else will likely fall in love with it as well. Just because a property has been on the market for a short while doesn’t mean it will remain there. If you don’t make an offer on a home, are you comfortable with the risk of losing it?

My role as an agent is to represent your interests and do everything possible to protect you throughout the process. If you’re planning to purchase a home soon, please contact us today at (928) 830-6976.

Remote work has become a game-changer. With more people working from home than ever, buying the right home is no longer just about location or square footage—it’s about finding a space that supports your productivity, creativity, and well-being. Whether you’re planning to purchase your first home or upgrade your current space, here are the key factors to consider when house hunting for remote work.  

1. Dedicated Workspace  

One of the most crucial elements of working from home is having a dedicated workspace. Your home office can be a spare bedroom, a finished basement, or even an outdoor studio. Look for a space that can be closed off to minimize distractions during meetings and deep work sessions.  

What to Keep in Mind:

• Natural light: A bright space can boost your mood and productivity.  
• Soundproofing: A quiet space is ideal if you’re taking many calls.  
• Storage: Make sure there’s room for files, tech, and other work essentials.  

2. Strong Internet Connection  

Reliable internet is non-negotiable when working from home. Check with local providers to ensure that the homes you’re considering are in areas with excellent high-speed internet options. If you have a busy video call schedule, you’ll especially want to confirm fiber optic or comparable connectivity.  

3. Outdoor Space for Breaks  

One of the biggest perks of working from home is stepping outside for a quick break. Homes with a patio, backyard, or balcony can offer the perfect escape to recharge between meetings.  

4. Open Layout vs. Room Segmentation  

While open layouts are a favorite for families, they might not be ideal for working from home. Consider a home that balances communal areas with private spaces where you can work without distractions.  

5. Energy Efficiency and Comfort  

You’ll spend much time in your home, so energy efficiency matters. Look for homes with modern HVAC systems, proper insulation, and natural ventilation to keep your workspace comfortable year-round without skyrocketing your utility bills.  

6. Proximity to Amenities  

Even though you’re working remotely, a home close to cafes, coworking spaces, or community centers can come in handy for a change of scenery when cabin fever strikes. Additionally, a neighborhood with access to parks and gyms can encourage a healthy work-life balance.  

7. Storage for Tech & Work Essentials  

Working remotely means more tech gear—think monitors, laptops, printers, and cables. Having built-in storage or enough room for shelves can help keep your workspace organized and clutter-free.  

Final Thoughts  

Finding the perfect home for remote work is about balancing comfort, functionality, and flexibility. By prioritizing these factors during your search, you’ll find a home that suits your personal life and helps you thrive professionally.  

Not sure where to start? Make a list of your must-haves before going house hunting, and then give us a call!  Dena and Dave Plane, 928-830-6976.

Buying your first home is a significant milestone. However, saving for a down payment can be daunting for many first-time buyers. Between budgeting, balancing current expenses, and navigating market changes, it’s no surprise that this step often seems overwhelming.  

But don’t worry—you’re not alone, and saving for your dream home is achievable with the right strategy.

What Is a Down Payment and Why Does It Matter?  

Before jumping into tips, let’s define what a down payment is. A down payment is the upfront amount you pay towards purchasing a home. Typically expressed as a percentage of the home’s total price (e.g., 10% or 20%), it shows lenders that you’re financially committed to the purchase.  

A larger down payment can result in lower monthly mortgage payments and better loan terms. For many first-time homebuyers, this can translate into significant savings in the long run.  

How you can save for a downpayment effectively

Set a Clear Savings Goal  

Before you save, know your target! Research home prices in your desired area, estimate 10-20% of that amount for your down payment, and consider closing costs (typically 2-5% of the home’s price). Add these together to create your target savings goal.  

For example, if your dream home costs $300,000, a 20% down payment would be $60,000, and closing costs might add an extra $6,000-$15,000. Adjust your goal based on your budget and mortgage type—some loans allow for smaller down payments.

Build a Budget (and Stick to It)  

Budgets are the foundation of any successful savings plan. Create a budget that accounts for all your monthly expenses—rent, utilities, groceries, and discretionary spending—and identify areas where you can cut back.  

Use budgeting apps like Mint or YNAB (You Need a Budget) to track your spending in real time and stay disciplined. Setting aside even $500 a month can help you build momentum toward achieving your goal.

Open a Dedicated Savings Account  

Separate your down payment savings from your regular savings. Opening a high-yield savings account can ensure that your money is secure while earning some interest along the way.   

Automate your savings by setting up direct deposits into this account. This “out of sight, out of mind” approach prevents the temptation of spending your savings on other expenses.

Rethink Your Rent  

Consider temporarily negotiating your rent or downsizing to a smaller, more affordable place. The money you save from reduced rent can be funneled directly into your down payment fund. Alternatively, look for a roommate to share expenses.  

Though this might require some short-term sacrifices, it may significantly accelerate your path to homeownership.

Cut Back on Non-Essential Spending  

Take a hard look at your discretionary expenses. Could you swap expensive dinners for home-cooked meals? Reduce your streaming subscriptions to one service? Opt for a staycation instead of a lavish vacation?  

Even small sacrifices can add up over time. For example, skipping a weekly $5 coffee run could save you $260 a year—combine that with other cost-saving measures, and you could save thousands.

Take Advantage of First-Time Buyer Programs  

Many first-time buyer programs offer down payment assistance, grants, or loans with lower down payment requirements. Research government initiatives, like FHA loans, VA loans, USDA loans, and state or local programs geared toward first-time buyers.  

Additionally, some lenders provide special programs to minimize upfront costs. Explore all available options to potentially lower your savings target.

Supplement Your Income  

Boost your savings by increasing your income. Consider taking on freelance work, a part-time job, or a side hustle like dog walking, tutoring, or selling handmade items online.  

An additional $300 a month can help you achieve your goal faster. Don’t forget to channel every extra dollar you earn directly into your down payment savings account.

Sell Unused Items  

Do you have clothes you never wear, furniture gathering dust, or electronics you no longer use? Turn unwanted items into cash by selling them on platforms like eBay, Facebook Marketplace, or Poshmark.  

A spring cleaning session can declutter your home and contribute to your down payment savings at the same time.

Save Your Windfalls  

Instead of spending your tax refund, work bonus, or birthday cash, deposit these windfalls directly into your down payment fund. These lump-sum boosts can significantly accelerate your timeline.  

For example, receiving a $2,000 tax refund is a giant leap closer to your goal—without impacting your regular budgeting efforts.

Monitor Your Progress  

Regularly check in to see how your savings are adding up. Use visual tools like a progress tracker or spreadsheet to stay motivated and see how far you’ve come.  

If needed, adjust your budget or savings strategy along the way. It’s okay if the timeline changes—what matters is staying consistent and committed to your goal.

Investing in Your Future  

Saving for a down payment may seem challenging initially, but breaking it down into manageable steps makes it achievable. By setting clear goals, staying disciplined, and taking advantage of creative strategies, you can turn the dream of homeownership into a reality.  

Your first home is within reach—start your savings plan today and lay the foundation for a secure, fulfilling future.  If you ever have questions on the home buying process, give us a call!  928-830-6976