Financing Process	Insurance & Title Services
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Financing Your New Home

Steps to Obtain your Financing:

1) Obtain Credit Report

Order a copy of your credit report. Your lender takes credit history into account when deciding whether to approve you for a mortgage. If you have a strong credit record, do your best to maintain it. If you've had credit problems in the past, the time to reverse that is now. Order a copy your credit report from one of the three major credit-reporting agencies:

* Equifax P.O. Box 740241 Atlanta, GA 30374-0241 (800) 685-1111

* Experian P.O. Box 2104 Allen, TX 75013 (888) EXPERIAN (888-397-3742)

* Trans Union P.O. Box 1000 Chester, PA 19022 (800) 916-8800

2) Decide what fits your budget.

3) Evaluate Financing Options Down-Payment Options

Buying a home doesn't necessarily mean having to make a large down payment. Many creditors allow low- and no-down payment options that can help you buy a house using little or no cash.

Down Payments

If you have a down payment goal in mind that you need to save for, you'll reach it more quickly if you stick to these simple rules:

* When you pay your monthly bills, write a check to your own savings or investment account.

* Avoid unnecessary purchases.

* Set realistic goals.

There are home loans for every type of home-buyer. The goal here is to match the benefits of a specific loan type with your goals for owning a home.

4) Understand the Loan Process

Chances are, your new home will have to be financed. Be prepared for the loan process by learning the basics prior to buying a home… knowledge is power.

Learn How Interest Rates, Points, and APR affect your loan

Interest Rates The higher the interest rate, the higher your monthly payment will be, it is as simple as that.

Points can lower your rate

These are fees paid to the lender at closing. Each “point” is equal to 1% of the loan amount. By paying more points you can lower your rate and save on interest over the life of your loan.

APR

APR is the annual cost of the loan as a percentage, all things accounted for. To compare loans, you must account for the terms, interest rates, points and then compare the APR to find the less expensive loan.

5) Get Pre-qualified or Pre-approved

Can Give You An Advantage Over Other Buyers

Pre-qualification

Prequalification provides a snapshot of your potential buying power based on your existing assets and income.

In order to pre qualify, your property, financial documents and program requirements to issue final approval.

Pre-approval

By getting pre-approval on a loan amount, agents and sellers know you are a serious potential buyer. Prequalification is based on the verification of your income, credit and assets. It requires a satisfactory title review and no change in financial condition as well as a satisfactory appraisal.

6) Get Informed About Total Costs

Be informed about any and all costs in involved in this price including lender and third party costs.

Are You Interested in Pre Qualifying for your New Home?

Would you like to Apply with our Preferred Lender?

Ask about the "No Money Down Loan" , if you own your building site.

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