Happy New Year! It’s the season of resolutions and fresh starts, and if your goal for 2025 is to buy your first home, you’re in the right place. At Consumers National Bank, we’re here to help you turn that resolution into a reality with this step-by-step guide to getting financially prepared.

Step 1: Get Specific with Your Goal

The first rule of goal setting? Be specific! Instead of saying, “I want to buy a house,” break it down into smaller, actionable steps. For example:

• Save $15,000 for a down payment.
• Improve your credit score by 50 points.
• Get pre-approved for a mortgage by June.

Writing your goals down can make them feel more real, and setting a target date helps you stay focused.

Step 2: Understand Your Budget

Before you start saving or house-hunting, knowing how much home you can afford is important. Start by looking at:

• Your monthly income.
• Current expenses (housing, bills, groceries, etc.).
• Debt-to-income ratio (lenders typically prefer this to be under 43%).

Use a mortgage calculator or talk to a Consumers National Bank loan officer to estimate what your future monthly payment might look like, including taxes and insurance.

Step 3: Create a Savings Plan

Buying a home involves more than just a down payment. There are closing costs, moving expenses, and sometimes even repairs to consider. Here’s how to make saving easier:

• Open a dedicated savings account, like the Ohio Homebuyer Plusprogram offered at Consumers National Bank.
• Automate your savings—set up direct deposits to your account every payday.
• Cut unnecessary expenses. Can you skip that subscription service or dine out less frequently? Every little bit helps!

Even small sacrifices now can add up to big savings by the end of the year.

Step 4: Build (or Strengthen) Your Credit Score

Your credit score is a major factor in qualifying for a mortgage and getting a good interest rate. Here’s how to give yours a boost:

• Pay bills on time. Even one missed payment can hurt your score.
• Reduce credit card balances. Aim to keep usage below 30% of your limit.
• Avoid opening new accounts. Hard inquiries can temporarily lower your score.

Not sure where your credit stands? Consumers National Bank can help you understand your credit report and suggest ways to improve it.

Step 5: Get Pre-Approved

Once your savings and credit are in good shape, it’s time to get pre-approved for a mortgage. This will:

• Help you understand how much house you can afford.
• Show sellers you’re serious when making an offer.

The pre-approval process is simple when you have the right team. Consumers National Bank will guide you every step of the way, making it quick and stress-free.

Step 6: Partner with Consumers National Bank

Buying a home is a team effort. Surround yourself with experts who have your back:

• A real estate agent who knows your local market and can help you find your dream home.
• A trusted lender (that’s us!) who can offer personalized advice and competitive mortgage options.

Together, we’ll make sure you’re ready for every step of the homebuying journey.

Make 2025 the Year You Achieve Homeownership

The path to homeownership starts with a plan—and we’re here to help. Whether it’s opening a savings account, improving your credit, or exploring mortgage options, Consumers National Bank has the tools and expertise to get you there.

Let’s make 2025 the year you turn your homeownership dream into a reality. Visit us today or connect with one of our expert lenders to get started!