Buying a house is fun and exciting but applying for a mortgage can feel like a daunting experience. There are many different things to consider. What amount will I qualify for? How much do I need to put down on the loan? Do I qualify for a conventional loan or will I need an FHA (Federal Housing Administration) loan?
Gary and his financial advisers can sit down with you and discuss your options for purchasing a home. Now is a great time for both buyers and sellers. Great interest rates are available and home prices are competitive. This is a great time to take the step toward home ownership!
Things that will be looked at when applying for a mortgage:
– Annual income
– Length of current employment and consistency of income
– Credit score
– Current liabilities and expenses
– Monthly debt to income ratio
– Ability to pay closing costs, taxes and fees
– Bankruptcy and credit history
Buying a home is one of the biggest financial decisions you will ever make. It is imperative to have a great lender and a great Realtor on your side and working in your best interest. Before you begin looking at homes, the most important thing as that you lay the groundwork for financial prosperity. It is important that you speak to your accountant and financial planner to see how buying a home fits into your goals and plan for success. Buying a home is an exciting adventure and the team at Numerico PC will help you with every strategic step to make your goals a realization.
