A down payment is the amount you pay toward the home yourself. You put a percentage of the home’s value down and borrow the rest through your mortgage loan. YOUR DOWN PAYMENT: WHAT THAT MEANS FOR YOU I Will Put Down 20% or More A 20% or higher down payment likely provides the best rates …
NEW CONSTRUCTION, CUSTOM HOME & RENOVATION HOME LOANS Our extensive knowledge of the new construction and renovation loan market allows us to offer a wide range of products, competitive pricing and streamlined loan processing. Whether you are interested in new construction, custom home, renovations or a complete tear-down, we welcome the opportunity to discuss your …
There are many different types of home loans available. The one that’s best for you will depend on your personal financial situation and homeownership goals. Here are some of the loan options you can consider: CONVENTIONAL OR GOVERNMENT-BACKED? Conventional loans have slightly stricter qualification requirements because they aren’t insured by the government. They are a …
When applying for a mortgage loan, your credit score will be one of the key factors in whether you’re approved and it will help determine your interest rate and possibly the terms of your loan. It’s a good idea to get a free copy of your credit report from annualcreditreport.com before you begin the home …
If you are having a difficult time finding a new home with limited inventory in today’s market, have you considered renovating your current home? We have many Renovation Loan1 solutions to use for a wide range of home improvement needs, which allows you to distribute the renovation costs over the life of the loan. Consider …
Before you can make the transition from renting your home to owning your home, you will need to have a down payment, typically 3 to 20 percent of the home’s value. George Mason Mortgage suggests the following tips to help save for it: 1. Develop a budget & timeline. Start by determining how much you’ll …
When applying for a mortgage loan, your credit will be one of the key factors in whether you’re approved, and it will help determine your interest rate and possibly the loan terms. It’s a good idea to check your credit before you begin the home buying experience. Before you dispute any errors or negative factors …
Our goal is to make your home buying experience as seamless as possible. We have highlighted some key guidelines to help keep your finances in order as you prepare for your journey home. Any changes to your current financials could affect your current financial picture. We are always here to provide guidance and advice as …
When you’re buying a home using a mortgage, refinancing your existing mortgage or selling your home to anyone other than an all-cash buyer, the home appraisal is a key component of the transaction. Whether you’re a buyer, owner or seller, you’ll want to understand how the appraisal process works and how an appraiser determines a …
After you finish signing at the closing of your new home, you’re handed the keys and the house is officially yours! But, there are some things you should do to make sure the transition from your old place to your new address goes as smoothly as possible. Every area of the country is different, which …
Buying a home will likely be the biggest purchase you will ever make in your life. Finally moving into your new home will be a joyous occasion and for some, the culmination of a dream. When looking for a home loan, you have options. When you use a local or regional lender, you are working …
Homeowners insurance or home insurance is typically required for anyone who takes out a mortgage to buy a home. Prior to closing on a mortgage, you must be able to provide a proof of homeowners insurance. The insurance helps protect the home, the contents within and the homeowner from any catastrophic damage. Lenders require such insurance …
When you buy a home, there may be tax deduction benefits. These include possible mortgage interest and points you paid to receive a lower interest rate. It is also possible to deduct the property tax you paid during the year as well as any mortgage insurance premiums required if you didn’t make a large down …
Buying your own home can be exciting and frightening at the same time. George Mason Mortgage suggests considering the following questions when choosing your first home: 1. How much money do you have saved up? Start with an evaluation of your financial health. How much do you have saved for a down payment? Down payments …
5 Important Questions When Choosing Your First Home Read More »
Por lo general, se requiere un seguro para propietarios de viviendas o un seguro de casa para que cualquier persona que tenga una hipoteca para comprar una casa. Antes del cierre y cuando hay una hipoteca, usted debe de proporcionar una prueba de seguro de propietario de vivienda. El seguro ayuda a proteger a la …