The process of buying a home can seem stressful at times, but it doesn’t have to be. With a few tips and tricks from the experts at Lake Shore Savings, you can turn your dream home into a reality with ease. Check out a few of our recommendations for before you purchase below.



Before you fall in love with a house that may not be within your price range, determine your budget and plan for how much house you can afford. Be sure to consider your monthly living expenses and leave room for home-ownership costs, such as property taxes and insurance. Not sure where to start? Check out our mortgage calculator for some help.



The earlier you can start saving for your home, the less of a financial burden it will feel like in the long run. And don’t stop the savings once you’ve reached your down payment goal! Beyond the initial 20% down, plan to save for closing costs (typically 3-4%), moving costs, and post-move expenses. The more you save, the more prepared you’ll feel for each expense that pops up.



When it comes to home financing, you have lots of options to choose from. It’s important to research each type of loan, plus rates and fees associated with them, to determine the best fit for you and your budget. With adjustable rate mortgage (ARM)  and fixed rate mortgage options  to consider, Lake Shore’s Mortgage Center can help you figure out which one works best with your needs and budget.



Once you’re confident you have enough saved to cover closing costs and a down payment, you’ll be ready to discuss your options with a mortgage lender. Taking the extra time to get a preapproval letter shows home sellers you’re a serious buyer. Preapproval can also give you that competitive edge in a cluttered market.


The home buying process can seem overwhelming, but Lake Shore Savings Bank is here to help. We offer a comprehensive step by step guide to get you on the right path to your new home. And, if you’re still looking to learn more about our mortgage offerings, stop in to one of our branches to talk to a representative today!