Choosing the Right Loan Program

Whether you are purchasing or refinancing your home, it is important to match the right mortgage to your situation. Through the interview process, I will try to discover your financial goals and provide mortgage solutions to help make your dreams and goals reality.

As we begin the process, it is important to understand your financial situation and determine how much you can afford for your monthly housing payment. How much are you able to put down? The amount you are able to put down will play a role in determining your mortgage choices. We will need to examine your credit score and your credit obligations.  There is a correlation between your credit score and the interest rate you will qualify for.

For many, a 30 year fixed mortgage is the only program they will consider. Although this will be the right choice for most, there are things to consider prior to making your final decision. A few important questions include:

  • Should I put more money down?
  • Should I buy down the rate?
  • How long you expect to live in the home?
  • Will you need a larger or smaller home in the future?
  • Do you expect to be relocated due to your employment?
  • Do you expect a promotion or change in your monthly income?
  • How soon do you want to be mortgage free?

These are just a few of the questions you need to answer Thoughtful answers to these questions will reveal the right mortgage choice for you and your family.