Homebuying Tips in the Digital Age

Digital Resources for Purchasing A Home

The Internet is much more than a tool for casual browsing. It’s ingrained in everything we do—from paying bills to shopping for a home. Among all generations of home buyers, the first step in the home search process is to look online for properties, according to the National Association of Realtors’ 2025 Homebuyer and Seller Generation Trends report.

With so much information available at your fingertips it can be hard to make sense of it all—especially for a process that can be as protracted and complicated as the purchase of a home.

The Consumer Financial Protection Bureau and the Federal Deposit Insurance Corp. both have resources to help demystify the homebuying process. But having a working knowledge of the process and available programs to assist first-time homebuyers is not enough to determine the right loan to meet a consumer’s unique financial needs and budget considerations.

That’s where a community bank like Fidelity Bank, which branches in central Iowa and western Illinois,comes in. Our expert lenders can help explain not only what you can afford and what to expect during the process, but other factors to consider when determining the right time to buy a home.

For those who are ready, there are several options available in addition to conventional loans, including mortgages insured by the Federal Housing Administration. FHA loans only require a 3.5 percent down payment and typically have higher loan-to-value ratios and lower credit score requirements than conventional loans (though buyers will have to refinance if they want to avoid paying private mortgage insurance for the life of the loan).

The U.S. Department of Veterans Affairs offers generous borrowing terms to servicemembers, veterans and surviving spouses, often requiring no down payment or mortgage insurance. While the VA has only a few requirements for things like debt and sufficient income, VA lenders may add their own requirements.

In addition to available federal homeownership and home-buying assistance programs, there are numerous programs sponsored by state and local governments, as well as other organizations, that make homeownership more affordable. There are a number of these types of loans available in both Iowa and Illinois.

During National Homeownership Month, Fidelity Bank Iowa and Fidelity Bank Illinois want to remind you to contact us for help with the homebuying process. And if you are not ready to take the plunge just yet, we can help you to establish a budget and set financial targets, so that when the time is right, you’ll have the know-how and the confidence to secure the keys to a home of your own.