Mortgage Information

If you're like most buyers, a home is the most expensive purchase you'll ever make, and you'll probably need some form of financing.

There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price.

I would be happy to refer you to some very good mortgage contacts I have in the area, or to help you in any other way I can to secure the best possible rate for your home purchase.

 

   

Think No-Money-Down Loans are a Thing of the Past? Not if You are a Military Veteran.

VA loans are what they are, meaning you have to be a veteran to obtain one. The VA does not make the loan - that's done by a VA-approved lender. But, because the VA guarantees the loan, borrowers don't have to pay mortgage insurance. A borrower does have the option of making a down payment.

 

Loans are not restricted to first-time buyers but borrowers must live in the home. Eligibility also extends to an unmarried surviving spouse of a veteran who died on active duty or as the result of a service-connected disability.

 

These loans are often made without any down payment at all, and frequently offer lower interest rates than ordinarily available with other kinds of loans. Aside from the veteran's certificate of eligibility and the VA-assigned appraisal, the application process is not much different than any other type of mortgage loan.

 

The following links will take you to the Department of Veteran's Affairs FAQ page regarding pre-loan and eligibility questions related to the zero down payment VA guaranty.

VA Eligibility FAQ's

VA Pre-Loan FAQ's

 

Use the mortgage calculators below to assist you in making some decisions around financing your new home.

Mortgage Qualification Calculator

This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.

Mortgage Payment Calculator & Amortization Table

This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.