Skip to Content
Close Icon

Beachwood Office (888) 801-1666 Open Geo Locator

Your Preferred Branch

Beachwood Change Location

25201 Chagrin Boulevard
Suite 120
Beachwood, OH 44122

Phone: (216) 359-5580
Fax: (216) 359-5581

View Driving Directions

Change Preferred Branch

  • Ada Office
    118 South Main Street P.O. Box 135 - Ada

  • Ada ATM (Non-Branch)
    525 S Main Street - Ada

  • Beachwood Office
    25201 Chagrin Boulevard, Suite 120 - Beachwood

  • Bellefontaine North Office
    1120 North Main Street P.O. Box 849 - Bellefontaine

  • Bellefontaine South Office
    1454 South Main Street P.O. Box 670 - Bellefontaine

  • Chardon Office
    348 Center Street P.O Box 1078 - Chardon

  • Cortland Office
    3450 Niles-Cortland Road - Cortland

  • Dublin Office
    6215 Perimeter Drive - Dublin

  • Garrettsville Office
    8058 State Street - Garrettsville

  • Kenton Office
    100 East Franklin Street P.O. Box 234 - Kenton

  • Lake County Loan Production Office
    8373 Mentor Avenue - Mentor

  • Mantua Office
    10691 Main Street P.O. Box 648 - Mantua

  • Marysville Office
    160 Coleman's Crossing Blvd. - Marysville

  • Middlefield - Main Branch Office
    15985 East High Street, P.O. Box 35 - Middlefield

  • Middlefield - West Branch Office
    15545 West High Street. P.O. Box 35 - Middlefield

  • Newbury Office
    11110 Kinsman Road, P.O. Box 208 - Newbury

  • Orwell Office
    30 South Maple Street, P.O. Box 66 - Orwell

  • Plain City Office
    490 South Jefferson Avenue - Plain City

  • Powell Office
    10628 Sawmill Parkway - Powell

  • Solon Office
    6134 Kruse Drive - Solon

  • Sunbury Office
    492 West Cherry Street - Sunbury

  • Twinsburg Office
    2351 Edison Boulevard, P.O. Box 560 - Twinsburg

  • Westerville Office
    17 North State Street - Westerville

Contact Us
Online Banking Login


Home Blog 4 Steps to Home Buying

4 Steps to Home Buying

Posted On: April 5, 2021 by The Middlefield Banking Company in: Budget Mortgages Savings

4 Steps to Home Buying

Whether you’ve been looking for a while or have just decided to begin the hunt, buying a home is an exciting adventure! With rates so low, it’s the perfect time to become a new homeowner. But do you know some of the things you should be doing before stumbling upon your dream home? We’re here to explain our top four steps to home buying so you can enjoy the journey. 

Know How Much You Can Afford 

Even though you could get a loan for $300,000, this may not mean you want to spend that much on a home. Go through your current debts, what equity you’d get back on your home, your salaries, monthly bills and expenses to know how much money you spend each month. Then calculate what your new mortgage would potentially be (including taxes, insurance and utilities as those may change) to know how much you are comfortable spending each month while allowing room for savings. This will help give you a final number you are truly comfortable spending, so you don’t go over your max when making an offer. 

You will also want to think about closing costs and the down payment. Closing costs are normally around 3% of your loan and it’s nice to try to have a down payment of 10-20%. These are large upfront costs so it's important to factor them in and begin saving for them. 

Get Pre-Qualified 

You may begin your search and think you’re in no rush – but what if you come across the perfect home and there’s already offers that could potentially be coming in? You want to make sure everything is lined up so you can put an offer in right away to get ahead of others. Waiting a whole day to meet with your bank and go over finances could cost you that slot that would get you to owning your dream home. You need to know how much you can actually afford, if you need the sale to be contingent on your home selling and so on. We can help you manage all of this and get you pre-qualified for a mortgage

Don’t Just Look on Home Sites 

Don’t just wait to see a home on a website like or Zillow. You want to check Facebook and follow realtors there as they may post a home before it becomes live on the site. You can also ask around if anyone is thinking about selling so you can get your foot in the door first before it goes on the market. The same goes for your realtor – if you want to use a realtor, choose one and make sure they are looking for you to alert you to a home that fits your criteria before it may go on market. 

Get a Home Inspection & Appraisal 

After putting in your offer and getting it accepted, be sure to have an inspection. You’ll want to know everything is running smoothly before you make this big financial decision. You will also need the home to be appraised. A home appraisal is a review that gives the current value of the property you want to buy. You must get an appraisal before you buy a home with a mortgage loan. Lenders require appraisals because they can’t lend out more money than a home is worth. 

Even though this seems like a lot, it will leave you confident in your decision to buy a home. When you have everything above worked out, all you need to focus on is finding a home that fits your needs instead of wondering if you can even afford it. Keep in mind our team can help you with any of the above, so contact us today!