Purchasing
If you are buying your first home or second home, it's always a very exciting time. Going to open houses and showrooms, waiting to hear if your offer is accepted, getting your financing and moving in! But it is also one of the biggest purchases of your life - you may have a lot of questions about the home buying process.
We have years of experience in helping people buy their first home. We have pulled together information that can help you with the big questions such as how much can I afford, how do I get approved for a mortgage, what is my lawyer responsible for?
Should you get a pre-approved mortgage?
Definitely. Obtaining a mortgage pre-approval is an important initial step in securing a mortgage to buy a home. The lenders will analyze your current income, debt situation and credit history in order to qualify you for a maximum loan amount. This will give you a clear picture of your financial parameters and an idea of your purchase price range. More importantly, with a pre-approval, we can hold your interest rate for up to 120 days. So, if rates go up from now until you buy a property, you are protected.
What is the minimum amount of money needed to buy real estate ?
In most situations, you only require 5% of the purchase price as your down payment. In some instances, you may qualify to purchase a home with no money down! We are committed to providing our customers with the creative resources in order to obtain the financing they desire.
100% Financing Now Available
You can now borrow the full amount of the purchase price of the property you want to buy. And what's better you get to choose any fixed or variable rate mortgage product at discounted rates. Please contact us at 902-530-3024 to obtain more information on 100% financing.
How can you determine how much of a mortgage you qualify for?
Several factors are involved in determining your purchase potential or how much you Qualify for. Please contact us to get a fast and accurate estimate.
How can a Cash back Mortgage assist a first time homebuyer?
Institutions have developed a product called the "Cash back Mortgage" so a buyer with the down payment but no cash to cover closing costs can still purchase a home. As long as you have the minimum down payment required, institutions are now giving you a cash reward to assist you in paying for your closing costs. You can also use this money to purchase furniture or appliances.
New Products Available
As a result of federal legislation changes mortgage insurance is only required on mortgage loans with greater than 80% loan to value.
Up to 40 year amortization is now available for qualified borrowers