06/01/2022: VIP Newsletter – June 2022

04/19/2022: Home Loans FAQ

Q : How do l know how much house l can afford? A : There are many things that effect how much a borrower can afford. Job tenure, credit, down payment, debt ratios are just a few. Credit is probably the most important factor of all. The higher your credit score the more you may be able to afford. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Contact your local branch and ask to speak with a Mortgage Loan Officer, and they can help you determine exactly how much you can afford.

Home Loans – Do’s & Don’ts

While working through the loan process, there are things you can do to delay your loan closing or even disqualify you from getting the loan. Here are some things to be aware of:

Home Loan Process: 6 Simple Steps

PRE-QUALIFICATION
Meet with your loan originator to apply for a loan and review credit standing.
Discuss purchasing goals and budget.
Issue a pre-qualification letter.

Home Loans: Choosing the Right Down Payment

A down payment is the amount you pay toward the home yourself. You put a percentage of the home’s value down and borrow the rest through your mortgage loan.