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Purchasing your first home is an exciting but sometimes frightening experience. We know, we've been there ourselves. During this period you will have a lot of questions since you are making a big decision and a big financial commitment. It's important for you to know that we'll take the time to walk you through the process, and to answer any and all questions that you might have. We'll probably even answer some questions that you didn't even realize you should be asking.
 Typically buying your first home will require you to put some money into the deal. How much money is directly dependent on how expensive a home you are buying, but for most people the amount if 5% of the purchase price. If you don't have 20% of the purchase price, the bank is going to require you to pay mortgage insurance which protects them in the case that you default on your loan. An alternative to paying mortgage insurance is to take out two loans: the first loan on 80% of the homes value, the second loan for 15% of the value. Not only will this reduce your monthly payment, it may give you an additional tax write off at the end of the year.*
If you don't have 5% to put down, ask us if you qualify for either 97% financing, or 100% financing with NO mortgage insurance.
If you're starting to look at properties and are curious about how much you can afford, either give us a call, or fill out our free pre-qualification forms, and one of our knowledgeable mortgage consultants will be in touch shortly to get the process started. Whether you have some money to put down towards a house, or if you're taking advantage of one of our 100% financing deals with no mortgage insurance, you'll have the comfort in knowing that you'll dealing with an experienced lender who will get you the best deal around.
*Check with your tax accountant for details.
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| 3/1 ARM |
5.375% |
| 5/1 ARM |
5.5% |
| 15 Year Fixed |
5.5% |
| 30 Year Fixed |
6.375% |
| 3/1 ARM |
5.375% |
| 5/1 ARM |
5.5% |
| 15 Year Fixed |
5.75% |
| 30 Year Fixed |
6.875% |
 | 7/01/08 6:13pm |
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