So, you’re thinking about buying a home. Good for you. Now the work begins. Where do I start? How much house can I afford? How do I find a good realtor? Is this going to be difficult? These are some of the initial questions you may be asking yourself. We have developed this website to hopefully answer many of your questions.
As little as 5 years ago, when it came to financing your home purchase, it was pretty simple. Most institutions only offered 3 or 4 standard loans. The only thing you really had to decide on was, do I want a 15-year mortgage, or a 30-year mortgage. Today though, that simply isn’t true. Those loans still exist, and are still very common. But did you know that ARM’s typically have rates that are up to 3% lower than a traditional 30-year mortgage. Did you know that you could now get 10, 20, and even 40-year mortgages? Interest only mortgages are also now available. Gone are the days when you had to put 10% to 20% down on your home purchase. You can now buy a home for zero down payment. There are literally dozens of special programs available that may only last a month or two. If you know that you are only going to be in your home for less than 30-years, why are you going to get a 30-year mortgage?
It is more important than ever to seek the help of a professional. A professional mortgage consultant is your guide through the complex world of home financing. What a good consultant will do is guide you through the process, try to resolve any issues before they become problems, educate you, and give you options and advice as to which loan program is right for your specific needs.
Take a look at our Flowchart of Mortgages, and our helpful guide to getting a mortgage in today’s economy.
We’re here to help you make an informed decision that works for you.