Planning for Home Ownership

Program Highlights

• 95% Financing ( On approval of credit )

• No Max Loan Amounts

• Gifted Down Payments

• No mortgage insurance required

• Insurance can be financed into the loan

• Terms up to 30 years ( with conditions )

• Adjustable rate loans available

• Debt to Income Ratio up to 50% ( with conditions )

• Fixed Rates

• Closing Costs can be financed

 

What should I know before buying a home?

Here are some tips that could save you a lot of time, money and trouble.

• Plan ahead.
  Establish good credit and save as much as you can for the down payment and closing costs.

• Keep your day job.
  If there's a career move in your future, make the move after your loan is funded. Lenders tend to favor a stable employment history.

• Know what you really want in a home.
  How long will you live there? Is your family growing? What are the schools like? How long is your commute? Consider every angle.

• Choose your loan (and your lender) carefully.
  For some tips, see the question in this section about comparing loans.

• Consult with your lender before paying off debts.
  You may qualify even with your existing debt, especially if it frees up more cash for a down payment.

• Don't shift money around.
  A lender needs to verify all sources of funds. By leaving everything where it is, the process is a lot easier on everyone involved.

• Don't add to your debt.
  If you increase your debt by financing a new car, boat, furniture or other large purchase, it could prevent you from qualifying.

• Timing is everything.
  If you already own a home, you may need to sell your current home to qualify for a new one. If you're renting, simply time the move to the end of the lease.