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Buying a Home- Mortgage.info

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MORTGAGE.INFO
LENDER HOTLINE: 888-581-5008

Buying a new Home:
Purchasing a new home is very exciting and worth all the effort to get you there. Whether you are purchasing a new home, or looking for a new style of home there are so many options out there for you to choose from. We are here to help you decide with your budget the best housing option for you. Click on the link to fill out a few questions to help us offer you competitive rates on home loans. So we encourage you to fill out a few questions so we can connect you with the best lender for you to get you moving into your new home!

Choosing the Right Property for You
Choices choices, too many choices! It can sometimes feel overwhelming trying to find the right property for you but we are here to help you narrow down our options. Many factors come into play when picking your new home. You need to look at your budget to determine how much you can realistically afford, where you would like to live location wise, and the style of home you are drawn to, and how much space in your home that you are wanting. There are several property types that may be available for you depending on your location.

Condos- Condos are usually more affordable, have reduced maintenance, and is good for homeowners who are looking for less space.

Mobile Homes- These are great options that are affordable and great for someone looking for a smaller home. They tend to be more environmentally friendly as well which is an added perk.

Multi-Family Homes- These are home with two to four different units which is good for large families that need extra space or for homeowners that want to rent out the extra space and generate an income from their home.

Single Family Homes- This is a standard when homeowners typically think of a home. They stand alone usually with a yard. Single family homes are great for privacy and giving the homeowner a homey space.

Mortgage Programs:
Since you are about to buy a home, you might be looking into all the loans that you need to get to get your home. Here is a list of some standard home loan options.

FHA Loans- These loans offer low down payments and lenient credit requirements.

VA Mortgages- These loans are for veterans or spouses of a veteran, and active duty service members. This loan option is great because it offers no money down financing.

Conventional Fixed Rate Mortgages- This option allows you payments to remain the same for the life of the loan.

Adjustable Rate Loans- This loan offers introductory rates with opportunities for short term savings.

USDA Rural Housing Loans- These loans are designed for people purchasing a home in specified rural areas. This is a good choice for those areas because it offers a zero money down option for first time home buyers.

Are You Buying A Home That Needs To Be Rehabilitated?
There are a few loan options that can help you both purchase and renovate your new home.

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Buying a Home- Mortgage.info

  1. 1. Buying a Home MORTGAGE.INFO MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  2. 2. BuyinganewHome: Purchasing a new home is very exciting and worth all the effort to get you there. Whether you are purchasing a new home, or looking for a new style of home there are so many options out there for you to choose from. We are here to help you decide with your budget the best housing option for you. Click on the link to fill out a few questions to help us offer you competitive rates on home loans. So we encourage you to fill out a few questions so we can connect you with the best lender for you to get you moving into your new home! MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  3. 3. ChoosingtheRightPropertyforYou Choices choices, too many choices! It can sometimes feel overwhelming trying to find the right property for you but we are here to help you narrow down our options. Many factors come into play when picking your new home. You need to look at your budget to determine how much you can realistically afford, where you would like to live location wise, and the style of home you are drawn to, and how much space in your home that you are wanting. There are several property types that may be available for you depending on your location. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  4. 4. Condos Condos are usually more affordable, have reduced maintenance, and is good for homeowners who are looking for less space. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  5. 5. Mobile Homes These are great options that are affordable and great for someone looking for a smaller home. They tend to be more environmentally friendly as well which is an added perk. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  6. 6. Multi-Family Homes These are home with two to four different units which is good for large families that need extra space or for homeowners that want to rent out the extra space and generate an income from their home. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  7. 7. Single Family Homes This is a standard when homeowners typically think of a home. They stand alone usually with a yard. Single family homes are great for privacy and giving the homeowner a homey space. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  8. 8. Mortgage Programs Since you are about to buy a home, you might be looking into all the loans that you need to get to get your home. Here is a list of some standard home loan options. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  9. 9. FHA Loans These loans offer low down payments and lenient credit requirements. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  10. 10. VA Mortgages These loans are for veterans or spouses of a veteran, and active duty service members. This loan option is great because it offers no money down financing. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  11. 11. Conventional Fixed Rate Mortgages This option allows you payments to remain the same for the life of the loan. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  12. 12. Adjustable Rate Loans This loan offers introductory rates with opportunities for short term savings. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  13. 13. USDA Rural Housing Loans These loans are designed for people purchasing a home in specified rural areas. This is a good choice for those areas because it offers a zero money down option for first time home buyers. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  14. 14. Are You Buying A Home That Needs To Be Rehabilitated? There are a few loan options that can help you both purchase and renovate your new home. Any 203k loan which is a type of FHA and VA mortgage, can help you rehab your home and make it into your dream home. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  15. 15. The Home Buying Process: MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  16. 16. You have that itch, the itch to purchase a home! All of a sudden you are paying attention to all of the available homes and are scanning the internet and newspaper relentlessly to find your dream home. The search for your first home can be intimidating but also fun and exciting if you go into the process prepared. It can be confusing when talking to a lender or agent with all of the mortgage mumbo jumbo, and the decisions you need to make feel like they are never going to end and to top it off you are going to have to write one hefty check by the end of this process. If you educate yourself now and are proactive with your steps to a plan that will help decrease your stress and end up with you in your new home. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  17. 17. The first step you need to take is how much money do you have in the bank. In other terms it is time to come up with a realistic and manageable budget so you don’t find yourself drowning in debt. Manage your budget by compiling your income, age, financial security, number of buyers, location, and financial risk etc. Talk with a lender to find out the appropriate amount to get in a loan based on all of your financial factors and monthly income. Once you do this the home buying process will get a whole lot better and way more fun. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  18. 18. After you determine your budget it is time to get per- approved for a mortgage. This will work with your budget to determine a price range that you will be approved for in your loan. This helps lenders and real estate lenders trust your credibility since your financial history will already be verified and help speed up the process on what time of homes you should begin looking at. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  19. 19. Then you need to apply for a mortgage. Once that is taken care of and an application is submitted and approved it is time to look for homeowners insurance, and compile additional documents such as bank statements. Finally you will close and that's when you finalize the mortgage documents by signing usually at a lawyer's office or with an escrow agent. After closing you should receive your keys to your new home! MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  20. 20. Make sure you are always asking questions so you are perfectly clear about everything throughout your entire process. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  21. 21. T O L E A R N M O R E MORTGAGE.INFO LENDER HOTLINE: 888-581-5008 C L IC K HE R E MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  22. 22. Information provided by: Justin McHood MORTGAGE.INFO Justin McHood is Americas Mortgage Commentator and has been providing Mortgage commentary for over 10 years. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  23. 23. LEARN MORE ABOUT MORTGAGE.INFO: MORTGAGE.INFO FACEBOOK.COM/WWW.MORTGAGE.INFO _MORTGAGEINFO PINTEREST.COM/MORTGAGE_INFO LENDER HOTLINE: 888-581-5008 MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

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