Purchasing a New
Home
Our philosophy is to not
only build loans but build relationships, and help guide
you through the steps
necessary to achieve a successful Real Estate Transactionâ€
Step 1: Get Your
Finances in Order
Your credit reports
are an ongoing look at how you manage your finances. You must
know exactly what
your credit reports say about your financial history before you
apply for a
mortgage, because the reports play an important role in the
mortgage approval
process and in determining the interest rate and other loan terms
that a lender offers
you.
If you haven't
looked at your credit reports, you might be surprised at their contents,
because errors are
common.
Step 2: Get Familiar
with the Mortgage Industry
Finding the right
loan is crucial to your home buying success. We. can help you
understand what is
available to suit your needs. Their help and expertise will help
you make an informed
decision and they will guide you throughout the entire process
Step 3: Get
Pre-Approved for a Mortgage
Do you know how much
house you can afford? Probably not !
Our Pre-approval
gives you that competitive edge over other house hunters. Consider
this scenario. A
home seller gets two similar offers. One is accompanied by a letter
from us that states
she is pre-approved for a mortgage in the amount of the offer.
The other has no
supporting documents. Which offer do you think the seller will
consider first?
Step 4: Determine
Your Wants and Needs
Buying a home isn't
as difficult as you might think, even if you're short on funds,
but the process will
go a lot smoother if you let us help you get familiar with
your real estate
market and narrow down your wants and needs before you start looking
at houses.
Step 5: Learn to
Work with Real Estate Agents
Real estate agents
represent buyers, sellers, or both--and in some states they can
work as neutral
facilitators for either party. It's essential to understand agent
duties and loyalties
before you make that first phone call.
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Refinancing
Find out if now is the right time to refinance! You
may be able to lower your monthly
payments or reduce the time it takes to pay off your
loan. Here are some important
reasons to consider refinancing:
-
Get a lower mortgage rate and reduce
interest costs.
-
Convert an adjustable rate mortgage to a
secure, fixed-rate mortgage.
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Consolidate your first and second
mortgages into a mortgage with a lower
rate.
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Pay off installment debts and credit
cards.
The advantages we offer for your refinancing
needs include:
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Low rates
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Easy online application
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All types of mortgage programs
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Guidance and advice from an experienced
loan professional
Ready to refinance your current mortgage?
Apply
online
to be pre-approved.
Find out if now is the right time for you to
refinance your current mortgage.
Comparing Home Equity Loans and Credit Lines
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Home
Equity Loan
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Home
Equity Line of Credit
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What
you get
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A single
lump-sum payment for the full loan amount
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A revolving
source of cash that you can draw from as needed
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How
you use it
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To finance
large one-time expenses that have a definite cost
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To finance
ongoing expenses or miscellaneous purchases, like
you would use a credit card
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How
you pay it back
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Repay the
full loan amount over a specific time period, at a fixed
interest rate
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Make
payments on the outstanding balance, at a variable interest
rate
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Benefits
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It offers
simple repayment terms, and the security of knowing your
payments will never
increase.
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It’s there
when you need it, and you only make payments on
what you use.
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Financing Major Expenses
If you’re making a major purchase, home equity
financing may be a more practical
way to pay for it than using cash, credit cards, or
other types of financing.
Consider a home equity loan or line of credit for:
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Improving your home. Not
only can improving your home make it more
appealing for you to live in, but it may
make it more valuable as well. The
increased value of your home after
renovation may be enough to offset the cost of
the project.
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A second home. If you’re
in the market for a vacation
or investment home, the equity in your
current home can be a good source of down
payment and closing funds for your purchase.
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Education. A home equity
line of credit gives you the flexibility
to pay for tuition, room and board, books,
and all the other costs of putting your
kids through school.
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Big events. Life is full
of big events with big price tags.
Whether you’re looking forward to a wedding,
a new baby, or a family trip
to Hawaii, home equity financing can make
paying for them easier.
to learn more about using equity to pay for major
expenses, or to start the
application process.
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