First-Time Homebuyers

Your Path to Homeownership Made Simple

At First Interstate Bank, we understand that the journey to homeownership can be both exciting and daunting. That's why we're here to simplify the process and guide you every step of the way.

1. Pre-qualify for Your Mortgage

Before you start your home search, it's essential to know your financial boundaries. Our pre-qualification process helps you determine your comfortable spending limit, down payment capabilities, and borrowing potential. Working closely with our Mortgage Loan Officers, you'll identify the price range that suits your needs, giving you the confidence to embark on your homebuying journey.

2. Find a Qualified Realtor

Navigating the housing market can be challenging, but our experienced realtors have their finger on the pulse of available properties within your budget. Partnering with a qualified realtor is often the simplest and most efficient way to discover your dream home.

3. Lock in Your Rate

You've found the perfect home, and now it's time to make an offer. During this crucial stage, you'll also want to secure your interest rate. At First Interstate Bank, we understand that interest rates can fluctuate daily due to market dynamics, inflation, economic trends, and Federal Reserve policy. By locking in your interest rate, you can reserve it and shield yourself from rate fluctuations for a specified period. Our rate-locking agreement with you ensures peace of mind during this pivotal phase, typically done 45 days before closing.

4. Close on Your House

The final step in your homeownership journey is closing on your new home. This stage officially transfers legal ownership from the seller to you, making the house yours. During closing, you'll sign all necessary documents and cover closing costs, which include fees associated with the property purchase and title transfer. Your dedicated Mortgage Loan Officer will provide you with a comprehensive list of these costs, which can include credit report fees, origination fees, appraisal fees, title search fees, and recording fees.

At First Interstate Bank, we're committed to simplifying the complex process of buying your first home. Trust us to provide guidance, expertise, and support, making your dream of homeownership

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