How much can I afford?
How much you can afford depends on your current income, what you have for monthly payments and the type of loan you secure. If you call us, we can usually tell you within minutes how much you can afford (unless you’re self-employed or paid by commission).
How much money do I need to put down?
Your down payment is determined by the type of loan you select. We have programs that require no down payment. There are closings costs associated with financing a home, but with some programs they can be paid for by the seller. We can sometimes get people into a home with absolutely no money out of pocket. Call us for details!
What type of loan is best for me?
It depends on how much you want to put down and what programs you are eligible for. Call us and we can help determine which program best suits your needs.
What is mortgage insurance?
Mortgage insurance is required by all lenders on conventional loans when the down payment is less than 20 percent. It is usually paid monthly with your house payment. RD and FHA also require a monthly mortgage insurance. If you are eligible for a VA loan, you will not need to pay a monthly mortgage insurance premium.
What is the minimum credit score?
Your credit rating is very important when trying to secure a loan. Most borrowers will have three credit scores. For most loan programs, your middle score must be at least a 640, however, we do have some options for people with lower scores. If you have had more than a couple of late payments over 30 days, it may hinder your ability to get financing.