Most homebuyers in Pennsylvania need to take out a mortgage in order to purchase a home. While it’s a common process, applying for a mortgage can also be complicated and frustrating. Here are a few tips to help you avoid pitfalls and make the mortgage application process a smooth one.


Get Pre-Approved Before Shopping: If you don’t know how much you can afford, buying a horse property in PA is a LOT more difficult! Before you start to look at homes, get in touch with a mortgage lender and get pre-approved for a loan. This will give you a good idea of how much a mortgage will cost you, as well as how much house you’ll be able to afford. Many real estate agents, and some sellers, require a pre-approval before viewing a property.


Get Your Debt Under Control: Mortgage lenders will take a good hard look at your debt when you apply for a mortgage. If you’re carrying a lot of debt, be sure to pay it down before starting the search for a horse property, and delay any big-ticket purchases until after closing day.


Manage Your Credit: Get a credit report run, and know your credit score. If there’s a mistake, you can dispute it. If your credit score just needs improvement, you can take steps to bring it up before starting the mortgage application process.


Keep Things Stable: Lenders like to see consistency and stability in their applicants. The best time to apply for a loan is at a time when you have held your current job for at least a couple years, and it’s wise to wait to change careers until after you’ve secured your mortgage.


If You’re Buying A Farm, Go With A Farm-Friendly Lender: Lastly, your chances of getting a loan to pay for the purchase of a horse property in PA or other agricultural real estate are better when you use a lender that is well-versed in providing mortgages for these types of properties. Cindy Stys Equestrian & Country Properties, Ltd. can provide you with a list of quality lenders who are experts in horse and agricultural properties.


Applying for a mortgage may seem overwhelming, but it doesn’t have to be a cause of major stress when buying a horse farm in PA. Keep your finances in check, get pre-approved, and use a lender familiar with farms to make the mortgage application process smooth sailing.