Neighbors Bank

Mortgage shopping is not cheating on your lender.

Once you’re under contract, lenders provide a Loan Estimate that shows things like your interest rate, monthly payment, closing costs and cash needed to close.
And yes, you can compare them. In fact, you should.

A lower interest rate does not always mean the lowest overall cost. One lender might offer a lower rate but higher upfront fees. Another might offer credits that reduce closing costs.
Comparing Loan Estimates side by side can help you see the full picture instead of just picking the option with the shiniest number.

Think of it like shopping for flights, except instead of legroom, you’re comparing fees that could affect your finances for years.

Get more money-saving tips: https://www.neighborsbank.com/learn/money-saving-first-time-home-buyer-tips/

Your credit score is invited to the homebuying process, whether you like it or not

Before applying for a mortgage, it’s worth checking your credit. Not because it’s fun. It is not fun. But your credit score can affect your mortgage rate, and even a slightly lower rate can save real money over time.

A few helpful steps:
✅ Pay bills on time
✅ Keep credit card balances low
✅ Avoid opening new credit accounts before applying
✅ Check your credit report for errors
✅ Don’t let “buy now, pay later” become “cry later, budget later”

Future you may appreciate the prep work!

Get more money-saving tips: https://www.neighborsbank.com/learn/money-saving-first-time-home-buyer-tips/

A lot of first-time buyers assume they need 20% down before they can even think about buying a home. But 20% down is not always required. Some loan options allow lower down payments, including FHA, USDA, VA and certain conventional loan programs.

Of course, a lower down payment can come with other costs, so it’s still important to compare the full picture. But don’t count yourself out just because you don’t have a massive pile of cash sitting in savings.

June is National Homeownership Month, so it’s a good time to learn what options may actually be available.

Get more money-saving tips: https://www.neighborsbank.com/learn/money-saving-first-time-home-buyer-tips/

Everyone talks about the mortgage payment, but homeownership has a few surprise side quests:

✅ Property taxes
✅ Homeowners insurance
✅ Maintenance
✅ HOA fees
✅ Utilities
✅ That one repair you absolutely did not budget for
✅ A mysterious noise that only happens at 11:47 p.m.

June is National Homeownership Month, which makes it a good time to remind first-time buyers: don’t just compare rent to the mortgage payment–compare the full monthly cost.

A home should fit your budget, your lifestyle and your ability to still buy groceries without doing mental gymnastics in the checkout line. Lucky for you, we’re here to help you figure out what works for you!

Get more money-saving tips: https://www.neighborsbank.com/learn/money-saving-first-time-home-buyer-tips/