How to Get a Home Loan

Are you a first time home buyer? We know how daunting and rigorous the procedure can be. Buying a home is probably going to be one of the biggest purchases of your life.

We are here to provide assistance and guide throughout the way. No doubt, you must be brimming with questions.

Are you ready to buy a home?

Intending to buy a home is one thing, but when it comes to going through with the process, there are a few details that need to be addressed. The first and foremost is obviously related to your financial status.

A few common questions you will be asked along the way:

  • How stable is your income? Are you self-employed or have a job?
  • Are your savings sufficient to place a down payment on the home?
  • Have thought thoroughly about finances such as home owner’s insurance?
  • What are your monthly recurring expenses?

Do you qualify for a home loan?

Next step for our company is to assess your ability to pay back a mortgage on the home.

Credit history

For a fast approval of your home loan, a clean and transparent previous credit record is helpful. In a nutshell, it basically shows a history of all the debts you have fulfilled. We can help with this, but a good credit score is an excellent incentive for lenders to give you a loan.

Accumulated assets

You will also need to show what assets you have.

Collateral

This refers to the property you will be putting up as a security measure should you fail to fulfill your part of the agreement.

Borrowing capacity

How much you can borrow depends on your ability to repay financial obligations. This can be measured by our home loan calculator. We generally advise, your typical housing costs shouldn’t exceed 30% of your gross income and your debts shouldn’t exceed 40% of your income. Exact percentages may vary.

Just one more step and you will be well on your way to buy your first home.

Find the right lender

Congratulations! You are eligible for home loans. The next step is to find a lender.

Online mortgage companies such as ourselves have been changing the field because we offer the best of all the options without being limited to a boundary – unlike banks. Connect with our advisors at http://buying-my-first-home.com/ right away and get the best deal available.

Why work with us?

  • We have years of expertise
  • We are a risk-free option
  • We provide a personalized service
  • We take an interest in your well-being
  • We follow through our promises
  • We believe in absolute transparency
  • We pride ourselves on being flexible
  • We will provide you service tailored to your needs
  • We understand and protect your privacy
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Ready to start shopping for your home?