Tools for Financing

The homebuying process can seem complicated, but by taking it step by step and consulting a professional real estate agent and a reputable lender you can soon be holding the keys to your own home.

Step 1: Figure out how much you can afford
What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate. There are calculators on many websites that can help, but it is best to visit a lender to find out for sure.

Step 2: Know your rights
A REALTOR® will abide by a code of ethics that will spell out your rights as a buyer, using a REALTOR® will assure you will have your rights protected.

Step 3: Shop for a loan
Save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan.

Step 4: Learn about homebuying programs
FHA loan programs offer lower downpayments and are a good option for first-time homebuyers. There are also many other programs in the market that your lender can tell you about. Your lender should be able to tailor a program to your needs.

Step 5: Shop for a home
Choose a real estate agent that knows the area, has experience and is committed to working with you to find just the right home for you. On the other hand you need to commit yourself to your real estate agent, jumping around from agent to agent will not get you the best agent or service.

While shopping for a home be sure to have (and share with your agent) your “wish list” of things you want your home to have, that and a “home shopping checklist” will make the job easier for both you and the agent.

If you choose a home in a neighborhood with a Home Owners Association (HOA), be sure to request a copy of the HOA packet, so you can review before closing.

Step 6: Make an offer
Discuss the process with your real estate agent. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale.

Step 7: Get a home inspection
Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.

Step 8: Shop for homeowners insurance
Lenders require that you have homeowners insurance. Be sure to shop around.

Step 9: Sign papers
You’re finally ready to go to “settlement” or “closing.” Be sure to read everything before you sign!

Mortage Lenders

Along with choosing a real estate professional to assist you in the purchase of your new home you will need to find a Lender that will work with you and process your mortgage. Below you will find a list of lenders that service the area and that are qualified to assist you.

Contact Company Phone
Denny Hively 1st Source Bank 574-268-1222
Brooke Sommer Beacon Credit Union 260-563-7443
Tim Hollowell Campbell & Fetter Bank 574-267-3311
Julia Moore First Federal Savings Bank 574-268-1089
Vicky Guyas Crossroads Bank 260-563-3185
Sheryl Colquitt American Mortgage Service Company 260-440-8757
Kurtis Murray Interra Credit Union 574-534-2506
Troy Tom Lake City Bank 260-244-4999
Shelly Avery Fidelity National Title Co 574-457-6776
Bob Sanders Metropolitan Title Co 574-457-4474
Rich Galbreath Mortgage 360, Inc
Kim Saillant Mutual Federal Savings Bank 574-457-4989
Brenda Rash Ruoff Mortgage Company 574-518-3826
Linda Rodriquez Teacher’s Credit Union 800-552-4745
Tom & Holly Tuttle Team Tuttle Mortgage 574-457-3775
John Warren Old National Bank 574-549-6040