Buying a home, whether it’s your first or your next, goes smoother when you plan ahead. If you want to move in 2026, the best time to start is now.

At Exchange Bank of Northeast Missouri, our local lenders help neighbors from Kahoka to Queen City map out budgets, compare mortgage options, and get pre-approved with confidence. Use this step-by-step checklist to get ready.

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Step 1: Clarify Your Goals

Are you upsizing, downsizing, relocating, or buying an investment? Knowing your “why” helps you set a smart plan for location, budget, and timing.

Step 2: Review Your Financial Health

Check your credit score. Many loan programs start around 620; a score 700+ can help you qualify for better rates.

Assess your DTI (debt-to-income). Lenders often look for 36% or less.

Build your savings. Plan for:

  • Down payment (typically 3–20%)
  • Closing costs (about 2–5%)
  • Moving costs
  • Emergency fund (3–6 months of expenses)

EBNEMO tip: Open a separate savings account just for your home fund so you can see progress and avoid spending it.

Step 3: Set a Realistic Budget

Figure out how much house you can comfortably afford. Include:

  • Mortgage principal and interest
  • Property taxes and homeowners insurance
  • HOA dues, if any
  • Utilities and maintenance

Goal: Keep total housing costs under 28% of your gross monthly income. Our lenders can run the numbers with you.

Step 4: Explore Mortgage Options

Different loans fit different goals:

  • Conventional – Great for strong credit and steady income
  • FHA – Helps buyers with lower credit or smaller down payments
  • USDA – For eligible rural areas (zero down payment possible)
  • VA – For qualified veterans and active-duty service members

Talk with a local EBNEMO lender to compare rates, terms, and down-payment options that fit life in Northeast Missouri.

Learn More About Home Loans

Step 5: Get Pre-Approved

A pre-approval helps you shop with confidence and shows sellers you’re serious.

Have ready:

  • Recent pay stubs or proof of income
  • Tax returns
  • Bank statements
  • Valid ID

EBNEMO tip: Schedule a quick pre-approval conversation. We’ll explain what to expect and help you prepare early.

Schedule a Pre-Approval Meeting

Step 6: Define Your Home Criteria

Make a wish list: neighborhood and commute, school district, bedrooms/bathrooms, yard size, layout.

Explore areas: Visit neighborhoods around Kahoka, Lancaster, Memphis, Palmyra, Queen City, Shelbyville, Wayland, and nearby communities. Check local amenities and resale potential.

Step 7: Look Into Assistance Programs

Even repeat buyers sometimes qualify for help. Ask about:

  • Down payment or closing cost programs
  • Tax credits for first-time buyers
  • Reduced mortgage insurance options

EBNEMO tip: We’ll help you review available programs so you don’t leave money on the table.

Step 8: Build Your Homebuying Team

  • Real estate agent to search, negotiate, and manage contracts
  • Loan officer to guide financing and lock your rate
  • Home inspector to flag issues before you buy
  • Title company to handle closing and confirm ownership

We work with trusted local professionals and are happy to connect you.

Contact a Local Lender Near You

Step 9: Create a 2026 Timeline

Want to move by summer 2026? Try this plan:

  • Fall 2025: Review finances, boost credit, start your home fund
  • Winter 2025–26: Get pre-approved and explore neighborhoods
  • Spring 2026: Start house hunting and compare options
  • Summer 2026: Make an offer, close, and move in

Step 10: Stay Flexible and Informed

Markets change, and rates, inventory, and demand can shift. Preparation helps you adapt.

EBNEMO tip: Follow Exchange Bank of Northeast Missouri on Facebook and Instagram, or check our site for updates and mortgage tips.

How Exchange Bank of Northeast Missouri Can Help

With EBNEMO, you get:

  • Personalized guidance from lenders who know this market
  • Local expertise across Northeast Missouri communities
  • Help with assistance programs and cost-saving strategies
  • Simple pre-approval, online or in person
  • Support from first question to closing day

Ready to get started? Visit our Home Loans page or stop by a branch near you.

Explore Mortgage Loan Options

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