Picking the Home Before the Mortgage Loan

Posted by brainjmedia03 on Thursday, August 30, 2018

Stone Bridge Mortgage_Do I Need a Mortgage Broker to Buy a House

Finances are a big part of choosing and buying a new home, but there are other factors you’ll want to include in your decision-making process. We try and list some of the deciding factors in choosing a new home below, including finances, and then provide a simple way to help you decide what is essential and what isn’t in a new home.

For each of these deciding factors, you will need to determine if you must have it or if you only want to have it. On a piece of paper or yellow legal pad, draw a line from top to bottom straight down the middle. Label one side “must have” and the other side “like to have”. As you read these deciding factors start placing them in one of the two columns.


When you factor in square footage you might also try and decide value based on dollar per square foot. Be careful because there are other factors that may raise or lower the price per square footage; ceiling height, countertops, and other finishes, for example.


You shouldn’t expect everything, this is where your must/want list comes in handy. When you view properties, some will have new granite that you really want, some may have a nice pool that you would love, and yet others may have completely renovated bathrooms. You will likely find that all the items on your want list may exist in different homes, and rarely will you find every want item on you list in one single home so manage expectations accordingly.


Tile, paint, and countertops are all relatively easy to change, the floor plan is not. It’s smarter to make your decisions based on which home has the dining room, kitchen, and living room that is the right fit for you a from the get-go.


You are not just choosing a new home, you are choosing the neighborhood you will be living in. Deciding factors here include schools, public transportation, walking friendly, nearby stores, and the neighbors themselves. You will have to live with these factors, so choose which ones you can live with and which ones you can live without.

Once you are armed with your list and know what’s available (and realistic) in your budget, you can move forward with the confidence of locating a home with everything you need and more.

Stonebridge Mortgage Group can help you decide which best fits your goals. We can also help get you  pre-approved for a mortgage and help with your real estate loans and other mortgage solutions, both residential and commercial. We serve the greater Portland area and are in Gresham, Oregon.

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