Many Loan Programs To Choose From…

If you are shopping for a loan to buy or to refinance an existing mortgage, make sure you truly understand your loan product. Know not only how many years it is amortized for, but also when is the loan due. Many products differ in this regard. If you know you will be residing in a property a shorter amount of time, why amortize the entire loan for 30 years, when you’re not staying that long in the property. A shorter term loan would be great, but is amortized for longer (keeping your payments lower), and if you have found your forever home, and rates are this fantastic, lock your costs in, so you never have a rent hike again. There are also various down payment programs.

There will never be a perfect time to buy. It will always be…let’s wait for prices to go down…let’s wait for a better interest rate…let’s wait until it’s a buyer’s market…let’s wait until we are financially set (Hint: buying a home helps you become financially set). The fact is, most people will tell you they had major nerves when buying a home. The idea of that payment every month, can be overwhelming; until you remember that rent works exactly the same way, except you’re paying someone else’s mortgage, not your own. Be selfish. Build your own equity.

So, please give us a call, we are happy to speak with you about all your options and to answer any questions you may have on buying or refinancing your home.