Home Purchase Loan
Arguably the most popular reason to take out a mortgage is simply to buy a home. But once someone gets a little more serious about the prospect of buying and financing a home, that person will soon discover there are far more options than one might realize. From loan terms. rates and fees, conventional vs. government…it can get a bit confusing rather quickly. But that’s where we come in to help. We’ll review your situation and match that up with your goals to get into a home with ease.
A refinance is nothing more than replacing one loan with another. And there are so many other reasons to refinance an existing mortgage besides getting a lower rate. You can switch from an adjustable rate mortgage to the stability of a fixed rate term. You can pull cash out during the transaction and pay off higher interest credit cards or student loans. If refinancing has been entering your mind, it’s time for us to talk and find out the next step.
What Is Your Home Loan Purpose?
Here are common reasons for taking out a home loan:
- Buying a home. The most common reason to take out a loan.
- Building a home. You can also use a home loan to build a custom house from the ground up.
- Refinancing a home. From lowering your rate to changing terms to getting out of the instability of an ARM and switching to a fixed, all are good reasons to refinance.
- Improving an existing home through repairs or upgrades. If your upgrades are eco-friendly, you may even qualify for a government-backed loan or credit.
- Investing. Placing real estate into someone’s personal portfolio is also a common reason to take out a new mortgage.
- Reverse mortgages. Designed for seniors 62 years of age and older, a reverse mortgage is a way to tap into the equity of a home with less paperwork and easier qualifying.
Whatever your reason, we can help you track down the best mortgage product for your needs. We can explain the approval process once we have both decided on your best course of action.