Whether
you are looking to purchase
a new home, refinance your
existing home, take out a
line of credit, or add a second
mortgage, I specialize in
them all. I can help you with
all of your mortgage financing
needs.
Programs
and services
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Determining
how much you can afford before
you begin your search will
save you valuable time.
Most
lenders require that your
monthly mortgage payment,
including principal, interest,
taxes and insurance, range
between 25% and 28% of your
gross monthly income. Most
lenders also require a 5%
to 20% down payment: 25% or
higher down payment may qualify
you for a lower percentage
rate.
Remember,
becoming prequalified does
not necessarily mean that
you will be approved for a
loan of that amount. Preapproval
from your lender means that
you have provided them with
the necessary paperwork, and
they have approved your actual
loan. This puts you in a much
better negotiating position,
because the seller knows that
you are able to obtain your
loan to purchase their home.
