Questions to Ask When Deciding On A Home Loan Program
Here are some of the top questions to ask before deciding on the type of loan to apply for.
How do I qualify for a loan? Several factors come into play regarding which program you are eligible for. However, the foundation to all your mortgage options lies in telling us about your income, credit, assets, and the type of property you hope to purchase.
How much house can I afford? It's essential to nail down your affordability before you start home shopping. Use our online calculator to get a close estimate of your payment. You can also pre-qualify with us to see the most accurate affordability scenarios.
How much should I save for a down payment? The minimum amount needed for a down payment depends on the loan program and whether you want to avoid particular fees from your monthly mortgage payment. For example, many loan programs allow for a 3-3.5% down payment, but it may require that your mortgage insurance or property taxes be built into the loan payment.
Putting down a little more may help avoid these costs in your monthly mortgage payment; however, it's not necessary. We have affordable loan options with low monthly payments that ask for as little as 0-3% down! Remember that while a higher down payment has its perks, so do low down payment ones.
What types of home loans do you offer? We have a wide variety of loan types available to meet your specific needs and requirements. So whether you are a first-time buyer, an investor, a veteran, or a retiree looking to make life more comfortable using your equity, we can match you with the right loan and payment that fits your needs.
"DISCLAIMER: Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. " PRMI NMLS 3094. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Arizona Department of Financial Institutions AZ Mortgage Banker License 0902614. California DFPI Department of Financial Protection and Innovation, CA DFPI Residential Mortgage Lending Act License 4130403. A copy of our Privacy Policy and Notice is accessible by going to Primary Residential Mortgage’s website and clicking on the “Privacy Policy” link located at the bottom of the page. https://www.primeres.com/privacy-policy. Connecticut Department of Banking Consumer Credit Division CT Mortgage Lender License 8750 Florida Office of Financial Regulation FL Mortgage Lender Servicer License MLD646 Georgia Department of Banking and Finance's Non-Depository Financial Institution Division, Georgia Mortgage Lender License 6521 Maine Bureau of Consumer Credit Protection, Maine Supervised Lender License SLM5619 Maryland Office of Financial Regulation, Maryland Mortgage Lender License 3094 (http://nmlsconsumeraccess.org). Massachusetts Division of Banks, Massachusetts Mortgage Broker and Lender License MC3094 New Hampshire State of New Hampshire Banking Department, New Hampshire Mortgage Banker License 3094MB New Jersey Department and Banking and Insurance, New Jersey Residential Mortgage Lender License New Carolina Commissioner of Banks Office, New Carolina Mortgage Lender License L-112833 Pennsylvania Department of Banking and Securities, Pennsylvania Mortgage Lender License 23206 Rhode Island Division of Banking, Rhode Island Lender License 20041715LL Rhode Island Loan Broker License 20041716LB Virginia Bureau of Financial Institutions, Virginia Lender License and Broker License MC-2248, NMLS 3094 (http://nmlsconsumeraccess.org). For refinance advertisements, that state, a reduction on monthly payment, please note: the total finance charges maybe higher, over the life of the loan.
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