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Buying a home

Buying a home: What to consider


Buying a home is one of the biggest financial decisions most people make. The average homeowner will be in their home for 13 years1. So it’s important to choose a home that you can afford now, and that will contribute to your quality of life for years to come.

Figure out how much you can really afford

Just because you get approved for a loan at a certain amount doesn’t mean that you can afford to buy a home that costs that much. When shopping for homes, consider the monthly payments, not just the total price. To see how much you can afford, look at your monthly bills and determine how much extra you can spend each month and still be comfortable.

Know your credit score and take steps to improve it

Your credit score has a lot to do with how much you’ll end up paying for your home. A better credit score can lead to a lower interest rate and lower payments. Know your score before applying for a loan and talk to your banker about ways to improve it.

Carefully consider your lender

By getting a mortgage from a bank you know and trust, you have the ability to choose your lender and to have your home loan and other accounts, like checking and savings, with one institution. 

Get pre-approved for a mortgage before shopping

Being preapproved lets realtors and sellers know that you are serious and ready to buy. Plus, if you find that perfect home you want to be able to make an offer before someone else does. 

Keep these tips in mind to get the home of your dreams that’s also a home that fits your lifestyle. And talk to Bank of Colorado when it’s time to apply for your mortgage. 

1. Source: National Home Buyer’s Alliance

Home Loans

There's no place like Colorado. And we're the bank that's been helping families like yours call it home for generations. We’re here for you with the financing needed to purchase or build a home. You can start the process at one of our branches . Or