Whether you are a first time buyer, moving into your dream home, or are looking for something smaller, we are here for you.
You work hard enough already. Let us work for you.
In this market, it is pretty much mandatory to be pre-approved. Whether you have a Realtor or not, its wise you came here. (You're already ahead of the game!) Having a Broker to support you is a must. Our team is here to make sure that moment your offer is accepted, your loan is moving forward too.
Have an accepted offer? Congratulations! But the work isn't over yet. We still have ways to go before we pack the van.
If you're not familiar with the loan process, there is no shame here! We have over 30 years of experience working with first time home buyers. Whether you're new to this process, or have been in the ringer a few times already, our team adapts to your level of experience.
For most people, buying property is the biggest expense you will ever incur in your lifetime--that's some major pressure! But working with the right team goes a long way in saving you time, money, & peace of mind. Honestly, any broker can get a loan; but few teams will truly care about you & your goals. Our team has one Real interest at heart: you.
A larger down payment opens up more mortgage opportunities for borrowers, but not all new home loans require a large down payment. For example:
· VA loan program offer zero-down mortgages.
· Conventional loans typically require at least 3% to 5% down.
· FHA loans require 3.5% down.
The main drawback of a low down payment loan is that they typically require private mortgage insurance (PMI), which increases your monthly payment.
A conventional loan with 20% down will prevent the borrower from paying PMI because the new homeowner already has enough home equity to absorb the lender’s losses in case of a foreclosure.
Mortgage insurance premiums help protect your lender in case you default on the loan. A foreclosure typically costs the lender as well as the borrower.
Conventional loans do not require mortgage insurance if you put down at least 20%, because this builds enough immediate equity in the home that the lender is already financially protected if the loan defaults.
The reason why everyone talks about getting pre-approved is because it shows not just the seriousness of you as a buyer, but a pre-approval is hard evidence that a lender is willing to loan money out to you. This is notthe case for pre-qualification.
Pre-qualification is more of an educated guess like saying,"It's likely a lender will loan you money." Pre-approval, however, is a definitive, official word given by a lender. Because of this, the pre-approval process has many more steps than a pre-qualification such as:
· A completed loan application
· Hard Credit check
· Verification of funds / assets